FEDERAL RESERVE STATISTICAL RELEASE
G.17 (419) For release at 9:15 a.m. (EDT)
April 15, 2015
Industrial Production and Capacity Utilization
Industrial production decreased 0.6 percent in March after increasing 0.1 percent in February. For
the first quarter of 2015 as a whole, industrial production declined at an annual rate of 1.0 percent, the
first quarterly decrease since the second quarter of 2009. The decline last quarter resulted from a drop
in oil and gas well drilling and servicing of more than 60 percent at an annual rate and from a decrease in
manufacturing production of 1.2 percent. In March, manufacturing output moved up 0.1 percent for its first
monthly gain since November; however, factory output in January is now estimated to have fallen 0.6
percent, about twice the size of the previously reported decline. The index for mining decreased 0.7
percent in March. The output of utilities fell 5.9 percent to largely reverse a similarly sized increase
in February, which was related to unseasonably cold temperatures. At 105.2 percent of its 2007 average,
total industrial production in March was 2.0 percent above its level of a year earlier. Capacity
utilization for the industrial sector decreased 0.6 percentage point in March to 78.4 percent, a rate that
is 1.7 percentage points below its long-run (1972-2014) average.
Market Groups
-------------
Business equipment was the only major market group to post a gain in production for March; its increase of
0.2 percent was mostly due to higher output of transit equipment. The index for consumer goods moved down
0.6 percent, with the decrease due to a drop of 5.0 percent in consumer energy products. The index for
non-energy nondurable consumer goods moved up 0.2 percent. The output of durable consumer goods increased
1.7 percent, as a gain of 3.0 percent in automotive products outweighed declines in home electronics and in
appliances, furniture, and carpeting. The index for materials fell 0.5 percent, with decreases in the
output of both non-energy and energy materials.
Industry Groups
---------------
Manufacturing output for the first quarter of 2015 fell at an annual rate of 1.2 percent, its first
appreciable decline since the second quarter of 2009. For March, manufacturing output edged up 0.1
percent. The production of durable goods moved up 0.2 percent, on the strength of a rebound in the
production of motor vehicles and parts. The output of primary metals declined 3.2 percent to register the
largest loss among durable goods industries. The production of nondurable goods moved up 0.1 percent;
decreases in the indexes for paper, for chemicals, and for plastics and rubber products mostly offset gains
by the other major nondurables industries. The production of other manufacturing industries (publishing
and logging) fell 0.4 percent. The decrease of 0.7 percent for mining reflected a drop of 17-1/2 percent
in the index for oil and gas well drilling and servicing that was partly offset by gains in crude oil and
natural gas extraction and by a bounceback in coal mining.
The capacity utilization rate for manufacturing in March was unchanged from the previous month at 77.1
percent, a rate 1.5 percentage points below its long-run average. The operating rate for durable goods
manufacturing edged down 0.1 percentage point to 76.6 percent, just below its long-run average. The
operating rate for nondurable goods manufacturing remained constant at 79.4 percent, a rate 1.2 percentage
points below its long-run average. Utilization for other manufacturing (publishing and logging) decreased
0.1 percentage point to 57.6 percent. Capacity utilization for mines dropped 1.0 percentage point to 84.4
percent, while the operating rate for utilities declined 5.1 percentage points to 80.0 percent.
Notice
Revision of Industrial Production and Capacity Utilization
The Federal Reserve Board plans to issue its annual revision to the index of industrial production (IP)
and the related measures of capacity utilization in mid-2015. New annual benchmark data for 2012 and 2013
for manufacturing will be incorporated, as well as other annual data, including information on the mining
of metallic and nonmetallic minerals (except fuels). The weights for market-group splits of the indexes
will be updated with information from the 2007 benchmark input-output accounts from the Bureau of Economic
Analysis. The updated IP indexes will include revisions to the monthly indicator (either product data or
input data) and to seasonal factors for each industry. In addition, the estimation methods for some series
may be changed. Any modifications to the methods for estimating the output of an industry will affect the
index from 1972 to the present.
Capacity and capacity utilization will be revised to incorporate data through the fourth quarter of 2014
from the Census Bureau's Quarterly Survey of Plant Capacity, which covers manufacturing, along with new
data on capacity from the U.S. Geological Survey, the U.S. Department of Energy, and other organizations.
Industrial Production and Capacity Utilization: Summary
Seasonally adjusted
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| 2007=100 | Percent change
| ----------------------------------------------------------------- | -----------------------------------------------------------------------------------
| 2014 2015 | 2014 2015 | Mar. '14 to
Industrial production | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '15
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | |
Total index | 105.1 106.3 106.2 105.8 105.9 105.2 | .0 1.1 -.1 -.4 .1 -.6 | 2.0
Previous estimates | 105.1 106.3 106.1 105.7 105.8 | -.1 1.2 -.2 -.3 .1 |
| | |
Major market groups | | |
Final Products | 100.7 102.6 101.9 101.5 101.8 101.2 | .0 1.8 -.7 -.4 .3 -.6 | .7
Consumer goods | 97.1 99.2 98.7 98.8 99.3 98.8 | -.3 2.2 -.5 .1 .6 -.6 | .8
Business equipment | 108.8 110.4 109.0 108.2 109.0 109.2 | 1.1 1.5 -1.3 -.8 .8 .2 | 3.2
Nonindustrial supplies | 92.8 93.5 93.3 93.3 93.3 92.3 | .4 .7 -.2 .0 .0 -1.0 | 1.8
Construction | 86.7 86.8 87.7 86.8 86.6 85.8 | .7 .1 1.0 -.9 -.3 -.9 | 2.7
Materials | 113.5 114.2 114.7 114.1 114.0 113.4 | -.2 .6 .4 -.5 -.1 -.5 | 3.2
| | |
Major industry groups | | |
Manufacturing (see note below) | 100.8 101.9 101.9 101.3 101.1 101.2 | .2 1.1 .0 -.6 -.2 .1 | 2.4
Previous estimates | 100.7 101.9 101.8 101.5 101.3 | .1 1.2 -.1 -.3 -.2 |
Mining | 132.3 132.0 135.1 132.9 130.7 129.7 | -1.1 -.2 2.4 -1.7 -1.6 -.7 | 3.7
Utilities | 101.6 105.3 100.0 103.2 109.1 102.7 | .4 3.6 -5.0 3.3 5.7 -5.9 | -3.6
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Capacity
| Percent of capacity | growth
| ------------------------------------------------------------------------------------------------------------------------------------------- | ---------------
| Average 1988- 1990- 1994- | |
| 1972- 89 91 95 2009 2014 | 2014 2015 | Mar. '14 to
Capacity utilization | 2014 high low high low Mar. | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '15
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | |
Total industry | 80.1 85.3 78.7 85.0 66.9 79.1 | 79.2 79.8 79.5 79.1 79.0 78.4 | 3.0
Previous estimates | | 79.1 79.8 79.4 79.1 78.9 |
| | |
Manufacturing (see note below) | 78.6 85.6 77.3 84.6 63.9 76.8 | 77.4 78.1 78.0 77.4 77.1 77.1 | 2.1
Previous estimates | | 77.3 78.1 77.9 77.6 77.3 |
Mining | 87.3 86.3 83.8 88.5 78.8 88.3 | 88.4 87.5 88.9 87.2 85.4 84.4 | 8.5
Utilities | 85.9 92.9 84.3 93.3 78.5 83.7 | 79.4 82.2 78.0 80.5 85.1 80.0 | .9
| | |
Stage-of-process groups | | |
Crude | 86.3 87.7 84.4 89.6 76.8 86.4 | 86.6 85.8 86.9 85.4 84.1 83.2 | 6.9
Primary and semifinished | 80.8 86.5 77.9 87.7 64.2 77.9 | 77.7 78.5 77.7 77.8 78.4 77.2 | 2.0
Finished | 77.1 83.4 77.4 80.6 66.8 77.0 | 77.2 78.4 78.0 77.5 77.3 77.5 | 2.1
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
r Revised. p Preliminary.
Note. The statistics in this release cover output, capacity, and capacity utilization in the
U.S. industrial sector, which is defined by the Federal Reserve to comprise manufacturing,
mining, and electric and gas utilities. Mining is defined as all industries in sector 21 of the
North American Industry Classification System (NAICS); electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS manufacturing industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing industries.
Logging and publishing are classified elsewhere in NAICS (under agriculture and information
respectively), but historically they were considered to be manufacturing and were included in
the industrial sector under the Standard Industrial Classification (SIC) system. In December 2002
the Federal Reserve reclassified all its industrial output data from the SIC system to NAICS.
Table 1
Industrial Production: Market and Industry Group Summary
Percent change, seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | Fourth quarter to | | |
| | | fourth quarter | Annual rate | Monthly rate |
| | |------------------------------|------------------------------|------------------------------------------------------------| Mar. '14
| | 2014 | | 2014 2015 | 2014 2015 | to
Item | NAICS |Proportion<1>| 2012 2013 2014 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '15
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | | | |
Total IP | | 100.00 | 3.2 3.3 4.6 | 4.1 4.6 -1.0 | .0 1.1 -.1 -.4 .1 -.6 | 2.0
| | | | | |
MARKET GROUP | | | | | |
Final products and nonindustrial supplies | | 51.63 | 2.7 3.2 3.5 | 2.4 5.2 -1.0 | .1 1.5 -.6 -.3 .2 -.7 | 1.0
Consumer goods | | 26.16 | 1.6 3.2 2.5 | .2 5.1 2.5 | -.3 2.2 -.5 .1 .6 -.6 | .8
Durable | | 5.81 | 6.2 9.1 5.6 | 11.6 2.4 -3.2 | -.1 3.6 -.6 -.8 -1.9 1.7 | 4.3
Automotive products | | 2.99 | 6.6 11.2 7.2 | 18.4 -1.0 -3.5 | -.9 6.4 -1.3 -1.1 -2.9 3.0 | 5.3
Home electronics | | .12 | -2.5 4.7 6.1 | 3.9 10.4 .4 | 1.0 2.2 .8 -1.1 .3 -.7 | 7.6
Appliances, furniture, carpeting | | .79 | 3.7 7.4 8.1 | 13.6 6.7 -7.7 | 1.0 -.8 2.3 -1.7 -2.0 -.6 | 5.3
Miscellaneous goods | | 1.91 | 7.5 6.7 2.2 | 1.1 5.8 -.9 | .5 1.3 -.8 .0 -.5 .8 | 2.1
Nondurable | | 20.35 | .4 1.6 1.6 | -3.0 5.9 4.2 | -.4 1.7 -.5 .3 1.3 -1.2 | -.1
Non-energy | | 15.22 | .2 .3 2.5 | .2 3.3 .1 | -.4 1.2 .3 -.3 -.4 .2 | 1.0
Foods and tobacco | | 8.77 | 3.1 .8 2.2 | -3.4 5.7 -1.0 | -.5 1.5 .4 -.8 -.6 .7 | .3
Clothing | | .18 | -1.5 6.3 2.5 | -1.9 11.1 4.1 | .1 1.4 3.1 .7 -3.4 .2 | 1.1
Chemical products | | 4.59 | -3.8 -.3 4.5 | 7.8 1.7 3.0 | -.6 1.1 .2 .2 .4 -.8 | 2.9
Paper products | | 1.19 | -6.3 -2.9 -4.6 | -2.9 -10.1 .0 | .1 -.4 -.5 .7 -.3 -.3 | -1.3
Energy | | 5.13 | 1.0 5.7 -.8 | -12.0 14.2 17.3 | -.1 3.3 -2.9 2.4 6.4 -5.0 | -3.4
| | | | | |
Business equipment | | 9.37 | 6.6 3.4 6.1 | 4.4 5.5 -2.1 | 1.1 1.5 -1.3 -.8 .8 .2 | 3.2
Transit | | 2.26 | 14.6 3.2 5.5 | 10.7 -4.5 -2.1 | -1.2 1.9 -.8 -.8 -.1 .6 | 3.8
Information processing | | 1.88 | 6.3 3.9 2.8 | 3.2 10.2 4.3 | 1.2 .3 .7 .5 .0 .1 | 3.7
Industrial and other | | 5.23 | 3.7 3.3 7.7 | 2.2 8.5 -4.4 | 2.1 1.8 -2.2 -1.2 1.5 .1 | 2.9
Defense and space equipment | | 2.19 | 4.6 1.7 1.8 | 3.6 .9 -1.8 | -.3 .2 .2 -1.2 1.1 -.6 | 1.1
| | | | | |
Construction supplies | | 4.10 | 3.8 5.0 5.2 | 10.3 5.6 -2.8 | .7 .1 1.0 -.9 -.3 -.9 | 2.7
Business supplies | | 9.00 | 2.1 2.9 2.9 | 2.3 6.3 -.1 | .3 1.0 -.8 .5 .1 -1.1 | 1.3
| | | | | |
Materials | | 48.37 | 3.8 3.5 5.8 | 5.9 4.0 -.9 | -.2 .6 .4 -.5 -.1 -.5 | 3.2
Non-energy | | 27.84 | 4.5 2.6 4.3 | 5.4 3.2 -2.0 | .1 .8 .1 -.6 -.2 -.2 | 2.4
Durable | | 17.12 | 6.1 4.2 5.7 | 6.9 2.1 -2.7 | .0 .7 .1 -.6 -.4 -.2 | 2.9
Consumer parts | | 2.47 | 8.6 6.5 8.4 | 16.3 5.6 -.1 | 1.0 2.0 .0 .4 -2.4 1.8 | 7.3
Equipment parts | | 6.16 | 8.2 4.1 7.3 | 6.4 7.1 -1.2 | .5 1.1 -1.2 .1 .0 .3 | 4.6
Other | | 8.48 | 3.8 3.5 3.8 | 4.7 -2.5 -4.5 | -.7 .0 1.2 -1.5 -.1 -1.2 | .4
Nondurable | | 10.72 | 2.1 .1 2.1 | 3.1 4.9 -.9 | .2 1.0 .0 -.4 .0 -.3 | 1.6
Textile | | .40 | -1.6 1.7 5.2 | 9.9 13.4 12.1 | .8 2.1 .5 -.2 2.5 1.2 | 8.9
Paper | | 1.73 | -2.3 -.5 -1.1 | -2.8 1.3 -4.6 | -.6 .6 .7 -.8 -1.5 -.1 | -1.0
Chemical | | 5.55 | 4.5 .2 3.5 | 7.8 5.1 -1.5 | .2 .8 .1 -.8 .5 -.5 | 2.6
Energy | | 20.54 | 2.6 4.9 7.9 | 6.5 5.2 .5 | -.6 .5 .9 -.5 .2 -.9 | 4.3
| | | | | |
| | | | | |
INDUSTRY GROUP | | | | | |
Manufacturing | | 72.71 | 3.5 2.9 4.1 | 4.4 3.8 -1.2 | .2 1.1 .0 -.6 -.2 .1 | 2.4
Manufacturing (NAICS) | 31-33 | 70.43 | 3.9 3.2 4.5 | 4.9 4.3 -1.2 | .2 1.2 .0 -.6 -.2 .1 | 2.7
| | | | | |
Durable manufacturing | | 37.37 | 6.2 4.9 5.5 | 6.7 3.4 -2.7 | .4 1.1 -.3 -.5 -.6 .2 | 3.1
Wood products | 321 | .87 | 7.8 9.0 3.4 | 10.4 4.4 -11.2 | 1.5 -.4 1.3 -3.2 -.2 -1.0 | 1.5
Nonmetallic mineral products | 327 | 1.49 | 2.2 3.9 7.4 | 13.6 1.5 2.3 | -.5 .0 1.3 .4 -.7 -.7 | 5.5
Primary metals | 331 | 3.20 | -1.4 4.0 1.7 | 7.5 -11.6 -21.1 | -1.2 -2.3 2.5 -4.3 -2.0 -3.2 | -6.3
Fabricated metal products | 332 | 5.54 | 5.4 4.8 3.5 | 3.3 2.3 .8 | .1 .1 .3 .4 -.7 .2 | 2.7
Machinery | 333 | 5.69 | 1.8 4.9 9.2 | 5.7 15.0 -2.9 | 3.0 2.2 -3.1 -.4 1.6 .0 | 4.8
Computer and electronic products | 334 | 5.59 | 12.9 4.2 5.0 | 1.8 6.7 1.9 | .9 .0 .4 .2 .1 .0 | 3.8
Electrical equip., appliances, | | | | | |
and components | 335 | 1.77 | 4.1 2.5 3.2 | 5.4 .6 3.7 | -.4 .7 -.7 1.0 -.3 .9 | 3.2
Motor vehicles and parts | 3361-3 | 4.47 | 11.5 8.9 7.1 | 18.3 -3.1 -3.8 | -.5 6.0 -1.2 -.7 -3.6 3.2 | 5.2
Aerospace and miscellaneous | | | | | |
transportation equipment | 3364-9 | 4.59 | 5.0 2.3 5.4 | 7.3 1.5 1.2 | -.3 .2 -.1 -.7 1.5 -.1 | 4.5
Furniture and related products | 337 | 1.01 | 4.3 4.6 9.3 | 9.0 10.8 -3.0 | .3 .8 1.9 -2.3 .5 -.8 | 4.7
Miscellaneous | 339 | 3.14 | 7.4 6.7 4.9 | 2.6 8.9 -4.2 | .4 1.7 -.6 .5 -2.9 .7 | 2.3
| | | | | |
Nondurable manufacturing | | 33.06 | 1.3 1.2 3.3 | 2.7 5.3 .5 | -.1 1.3 .4 -.6 .1 .1 | 2.3
Food, beverage, and tobacco products | 311,2 | 10.67 | 3.3 1.0 2.5 | -2.9 6.8 .3 | -.2 1.6 .2 -.5 -.4 .6 | 1.0
Textile and product mills | 313,4 | .64 | -1.0 .8 4.1 | 9.3 9.3 1.8 | 1.1 1.7 -.2 -1.4 1.8 .6 | 6.1
Apparel and leather | 315,6 | .23 | -1.9 5.9 1.6 | -3.2 9.9 5.1 | .1 1.3 3.1 1.0 -3.3 .1 | .7
Paper | 322 | 2.15 | -2.1 -1.4 -.9 | -3.0 2.4 -7.1 | -.3 .9 .5 -1.2 -1.6 -.6 | -1.2
Printing and support | 323 | 1.24 | -2.7 3.1 1.7 | 2.7 3.6 .6 | .4 .6 .8 -.6 -.2 .4 | 1.0
Petroleum and coal products | 324 | 3.68 | -1.5 1.7 2.1 | 3.0 -.8 5.8 | -1.5 1.8 1.1 -1.9 2.8 .6 | 2.7
Chemicals | 325 | 11.44 | 1.0 .7 4.1 | 7.7 5.5 -.1 | .3 .7 .4 -.6 .3 -.5 | 3.1
Plastics and rubber products | 326 | 3.02 | 4.9 4.4 9.0 | 8.1 8.9 2.3 | .2 2.2 -.6 .5 -.4 -.3 | 6.0
| | | | | |
Other manufacturing (non-NAICS) | 1133,5111 | 2.28 | -6.2 -3.4 -7.0 | -10.0 -12.2 -.4 | -.6 -.6 -1.0 .6 .4 -.4 | -5.2
| | | | | |
Mining | 21 | 17.76 | 4.2 4.8 10.0 | 10.5 1.8 -6.0 | -1.1 -.2 2.4 -1.7 -1.6 -.7 | 3.7
Utilities | 2211,2 | 9.54 | .1 4.2 -.8 | -9.1 17.8 11.1 | .4 3.6 -5.0 3.3 5.7 -5.9 | -3.6
Electric | 2211 | 8.24 | -.4 3.4 -.3 | -9.3 18.0 10.3 | .9 2.1 -3.4 2.4 5.4 -5.3 | -2.3
Natural gas | 2212 | 1.30 | 4.0 10.6 -4.1 | -7.7 16.1 17.0 | -2.2 13.6 -14.8 9.5 7.6 -9.8 | -11.1
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
[r] Revised. [p] Preliminary.
<1> The proportion data are the relative weights for the rates of change for each series in the computation of the change in total industrial production in the following year.
Note. Under industry groups, the figures to the right of the series descriptions are 2002 North American Industry Classification System (NAICS) codes. The abbreviation pt
denotes part of a NAICS code. Additional industry detail is available on the Board's web site (www.federalreserve.gov/releases/G17). Under market groups, in
the products category, miscellaneous consumer nondurables, oil and gas drilling, and manufactured homes are not shown separately; in the nondurable materials
category, containers and miscellaneous nondurable materials are not shown separately.
Table 2
Industrial Production: Special Aggregates and Selected Detail
Percent change, seasonally adjusted
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | Fourth quarter to | | |
| | | fourth quarter | Annual rate | Monthly rate |
| | |------------------------------|------------------------------|------------------------------------------------------------| Mar. '14
| | 2014 | | 2014 2015 | 2014 2015 | to
Item | NAICS | Proportion| 2012 2013 2014 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '15
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | | | |
Total industry | | 100.00 | 3.2 3.3 4.6 | 4.1 4.6 -1.0 | .0 1.1 -.1 -.4 .1 -.6 | 2.0
| | | | | |
Energy | | 29.30 | 1.8 4.8 5.7 | 2.8 7.1 .6 | -.5 1.1 -.1 -.1 1.0 -2.2 | 1.4
Consumer products | | 5.13 | 1.0 5.7 -.8 | -12.0 14.2 17.3 | -.1 3.3 -2.9 2.4 6.4 -5.0 | -3.4
Commercial products | | 2.87 | 1.4 4.0 1.7 | 2.3 10.5 2.5 | -.4 2.1 -2.3 1.3 1.7 -3.0 | .8
Oil and gas well drilling | 213111 | .77 | -7.5 -1.2 7.4 | 12.2 .4 -69.8 | -.8 -.5 -1.9 -10.0 -17.3 -17.7 | -36.6
Converted fuel | | 3.88 | .3 1.0 .8 | -4.1 9.1 2.7 | .4 1.3 -3.8 1.7 3.0 -2.4 | -3.2
Primary energy | | 16.65 | 3.3 6.1 9.7 | 9.2 4.4 .0 | -.9 .3 2.0 -.9 -.4 -.6 | 6.3
| | | | | |
Non-energy | | 70.70 | 3.7 2.8 4.2 | 4.6 3.6 -1.6 | .2 1.1 -.1 -.6 -.3 .0 | 2.3
Selected high-technology industries | | 2.90 | 16.9 5.4 6.3 | 1.4 4.7 -3.1 | .9 .2 -.5 -.6 -.1 .3 | 4.0
Computers and peripheral equipment | 3341 | .31 | 2.6 13.6 -.8 | 17.3 3.6 -10.5 | .1 2.3 -3.4 -1.8 .3 1.1 | 1.1
Communications equipment | 3342 | .43 | -1.5 2.5 1.2 | -4.8 21.2 -.7 | 3.7 2.2 .6 -.9 -.6 .0 | 6.4
Semiconductors and related | | | | | |
electronic components | 334412-9 | 2.17 | 23.9 5.0 8.4 | .6 1.9 -2.5 | .5 -.5 -.3 -.3 .0 .2 | 3.9
| | | | | |
Excluding selected high-technology | | | | | |
industries | | 67.80 | 3.1 2.7 4.1 | 4.8 3.6 -1.6 | .1 1.2 -.1 -.6 -.3 .0 | 2.2
| | | | | |
Motor vehicles and parts | 3361-3 | 4.47 | 11.5 8.9 7.1 | 18.3 -3.1 -3.8 | -.5 6.0 -1.2 -.7 -3.6 3.2 | 5.2
Motor vehicles | 3361 | 2.21 | 12.7 11.7 6.0 | 25.1 -11.0 -9.7 | -2.3 9.8 -1.8 -1.8 -5.9 4.3 | 3.1
Motor vehicle parts | 3363 | 1.95 | 9.7 5.9 7.1 | 12.6 1.1 1.0 | .8 1.9 -.2 .0 -1.7 2.6 | 6.6
| | | | | |
Excluding motor vehicles and parts | | 63.32 | 2.5 2.3 3.8 | 3.8 4.1 -1.4 | .2 .8 .0 -.5 -.1 -.2 | 2.0
Consumer goods | | 18.46 | 1.1 1.3 2.9 | 1.2 3.8 -.1 | -.3 1.1 .2 -.3 -.4 .2 | 1.6
Business equipment | | 8.20 | 6.0 3.8 6.8 | 3.6 6.8 -1.7 | 1.3 1.0 -1.2 -.9 1.3 .0 | 3.4
Construction supplies | | 4.08 | 3.9 5.0 5.2 | 10.4 5.6 -2.8 | .7 .1 1.0 -.9 -.3 -.9 | 2.7
Business supplies | | 5.87 | 1.5 2.3 3.1 | 2.3 4.4 -1.3 | .7 .5 -.1 .1 -.7 -.2 | 1.4
Materials | | 24.49 | 2.4 2.0 3.7 | 5.2 3.3 -2.1 | .0 .8 .1 -.6 -.1 -.5 | 1.9
| | | | | |
Measures excluding selected high-technology | | | | | |
industries | | | | | |
Total industry | | 97.10 | 2.7 3.3 4.5 | 4.2 4.6 -.9 | -.1 1.1 -.1 -.4 .1 -.7 | 2.0
Manufacturing<1> | | 69.80 | 2.8 2.8 4.0 | 4.5 3.7 -1.1 | .1 1.2 .0 -.6 -.2 .1 | 2.4
Durable | | 34.61 | 5.1 4.9 5.4 | 7.2 3.4 -2.7 | .4 1.2 -.3 -.5 -.6 .2 | 2.9
| | | | | |
Measures excluding motor vehicles and parts | | | | | |
Total industry | | 95.53 | 2.8 3.1 4.5 | 3.4 5.0 -.8 | .0 .9 .0 -.4 .3 -.8 | 1.9
Manufacturing<1> | | 68.23 | 3.0 2.6 3.9 | 3.5 4.2 -1.0 | .2 .8 .1 -.5 .0 -.1 | 2.3
Durable | | 33.04 | 5.5 4.4 5.2 | 5.1 4.4 -2.6 | .6 .5 -.2 -.5 -.1 -.2 | 2.7
| | | | | |
Measures excluding selected high-technology | | | | | |
industries and motor vehicles and parts | | | | | |
Total industry | | 92.62 | 2.3 3.0 4.4 | 3.5 5.0 -.8 | .0 .9 .0 -.4 .3 -.8 | 1.8
Manufacturing<1> | | 65.33 | 2.3 2.4 3.8 | 3.6 4.2 -.9 | .2 .8 .1 -.5 .0 -.1 | 2.2
| | | | | |
Stage-of-process components | | | | | |
of non-energy materials, | | | | | |
measures of the input to | | | | | |
Finished processors | | 10.76 | 6.0 3.8 6.1 | 7.1 6.0 -1.0 | .4 1.2 -.6 .0 -.7 .6 | 4.5
Primary and semifinished processors | | 17.07 | 3.5 1.8 3.2 | 4.3 1.3 -2.6 | -.2 .5 .5 -.9 .0 -.8 | 1.1
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
[r] Revised. [p] Preliminary.
<1> See note on cover page.
Table 3
Motor Vehicle Assemblies
Millions of units, seasonally adjusted annual rate
--------------------------------------------------------------------------------------------------------------------------------------------
| 2014 | 2014 2015 | 2014 2015
Item |Average| Q2 Q3 Q4 Q1 | Oct. Nov. Dec. Jan. Feb. Mar.
--------------------------------------------------------------------------------------------------------------------------------------------
Total | 11.66 | 11.67 12.19 11.73 11.48 | 11.14 12.12 11.93 11.73 10.98 11.73
Autos | 4.25 | 4.15 4.44 4.33 4.06 | 3.97 4.46 4.55 4.07 3.83 4.28
Trucks | 7.41 | 7.52 7.75 7.40 7.42 | 7.17 7.66 7.38 7.66 7.14 7.45
Light | 7.12 | 7.22 7.44 7.11 7.10 | 6.88 7.35 7.10 7.35 6.83 7.13
Medium and heavy | .29 | .29 .31 .29 .31 | .29 .31 .28 .31 .31 .32
| | |
Memo: | | |
Autos and light trucks | 11.37 | 11.38 11.88 11.44 11.17 | 10.85 11.81 11.64 11.42 10.67 11.41
--------------------------------------------------------------------------------------------------------------------------------------------
Note. Seasonal factors and underlying data for auto, light truck, and medium and heavy truck production are available on the Board's web site,
www.federalreserve.gov/releases/G17/mvsf.htm
Table 4
Industrial Production Indexes: Market and Industry Group Summary
2007 = 100, seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 2014 | 2014 2015
Item | NAICS | Proportion| July Aug. Sept. Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | |
Total IP | | 100.00 | 104.5 104.5 105.2 105.1 106.3 106.2 105.8 105.9 105.2
| | |
MARKET GROUP | | |
Final products and nonindustrial supplies | | 51.63 | 98.2 97.8 98.4 98.6 100.1 99.5 99.2 99.5 98.7
Consumer goods | | 26.16 | 97.5 96.5 97.4 97.1 99.2 98.7 98.8 99.3 98.8
Durable | | 5.81 | 107.5 103.6 103.3 103.1 106.9 106.2 105.3 103.3 105.1
Automotive products | | 2.99 | 127.7 120.5 118.6 117.5 125.0 123.4 122.1 118.6 122.1
Home electronics | | .12 | 62.9 64.7 63.6 64.2 65.6 66.2 65.4 65.6 65.2
Appliances, furniture, carpeting | | .79 | 78.8 76.8 78.3 79.1 78.4 80.3 78.9 77.3 76.9
Miscellaneous goods | | 1.91 | 96.8 95.8 96.8 97.3 98.5 97.7 97.7 97.2 98.0
Nondurable | | 20.35 | 95.1 94.9 96.2 95.8 97.5 97.0 97.3 98.6 97.4
Non-energy | | 15.22 | 93.1 93.1 93.6 93.2 94.3 94.6 94.2 93.9 94.0
Foods and tobacco | | 8.77 | 100.8 100.8 102.0 101.5 103.0 103.3 102.5 101.9 102.6
Clothing | | .18 | 62.2 60.2 61.8 61.8 62.7 64.6 65.1 62.9 63.1
Chemical products | | 4.59 | 86.0 86.5 86.6 86.0 87.0 87.2 87.4 87.7 87.0
Paper products | | 1.19 | 74.9 73.7 71.8 71.9 71.6 71.2 71.7 71.6 71.4
Energy | | 5.13 | 102.0 101.3 105.1 105.0 108.5 105.4 108.0 114.8 109.1
| | |
Business equipment | | 9.37 | 108.2 108.0 107.6 108.8 110.4 109.0 108.2 109.0 109.2
Transit | | 2.26 | 117.1 113.4 113.6 112.3 114.4 113.4 112.6 112.5 113.2
Information processing | | 1.88 | 101.0 101.9 102.6 103.9 104.2 104.9 105.4 105.4 105.5
Industrial and other | | 5.23 | 106.6 107.3 106.3 108.5 110.4 108.0 106.6 108.2 108.3
Defense and space equipment | | 2.19 | 117.1 117.1 117.8 117.4 117.6 117.8 116.4 117.7 117.0
| | |
Construction supplies | | 4.10 | 85.6 85.9 86.1 86.7 86.8 87.7 86.8 86.6 85.8
Business supplies | | 9.00 | 94.1 94.5 95.4 95.8 96.7 96.0 96.4 96.5 95.4
| | |
Materials | | 48.37 | 112.4 112.9 113.7 113.5 114.2 114.7 114.1 114.0 113.4
Non-energy | | 27.84 | 105.5 105.4 105.7 105.8 106.6 106.7 106.1 105.8 105.6
Durable | | 17.12 | 116.9 116.4 116.7 116.7 117.5 117.6 116.9 116.4 116.1
Consumer parts | | 2.47 | 105.3 102.1 102.3 103.3 105.3 105.3 105.8 103.2 105.0
Equipment parts | | 6.16 | 149.7 150.5 152.2 152.9 154.6 152.7 152.8 152.8 153.2
Other | | 8.48 | 99.5 99.2 98.8 98.2 98.2 99.4 97.9 97.8 96.6
Nondurable | | 10.72 | 90.1 90.7 90.9 91.1 91.9 91.9 91.5 91.5 91.3
Textile | | .40 | 79.5 78.9 80.2 80.8 82.5 82.9 82.7 84.8 85.8
Paper | | 1.73 | 80.7 81.1 81.2 80.7 81.2 81.8 81.1 79.9 79.8
Chemical | | 5.55 | 91.7 92.5 92.8 93.0 93.7 93.8 93.0 93.5 93.0
Energy | | 20.54 | 123.7 124.9 126.8 126.0 126.5 127.7 127.1 127.4 126.2
| | |
| | |
INDUSTRY GROUP | | |
Manufacturing | | 72.71 | 100.8 100.4 100.6 100.8 101.9 101.9 101.3 101.1 101.2
Manufacturing (NAICS) | 31-33 | 70.43 | 102.5 102.2 102.5 102.7 103.9 103.9 103.2 103.0 103.1
| | |
Durable manufacturing | | 37.37 | 111.9 110.9 111.1 111.5 112.7 112.4 111.8 111.2 111.4
Wood products | 321 | .87 | 82.8 83.1 82.2 83.4 83.1 84.2 81.5 81.3 80.5
Nonmetallic mineral products | 327 | 1.49 | 79.7 79.8 80.3 79.9 79.9 80.9 81.2 80.7 80.1
Primary metals | 331 | 3.20 | 109.2 108.3 107.0 105.7 103.2 105.8 101.3 99.2 96.0
Fabricated metal products | 332 | 5.54 | 99.9 98.5 99.6 99.7 99.8 100.1 100.5 99.8 99.9
Machinery | 333 | 5.69 | 109.5 111.0 110.4 113.8 116.3 112.7 112.2 114.0 114.0
Computer and electronic products | 334 | 5.59 | 150.5 151.3 152.3 153.6 153.6 154.2 154.5 154.6 154.7
Electrical equip., appliances, | | |
and components | 335 | 1.77 | 91.7 92.5 92.5 92.2 92.8 92.2 93.1 92.8 93.7
Motor vehicles and parts | 3361-3 | 4.47 | 123.9 115.0 112.9 112.3 119.1 117.6 116.8 112.6 116.3
Aerospace and miscellaneous | | |
transportation equipment | 3364-9 | 4.59 | 111.0 111.2 112.2 111.8 112.0 111.8 111.1 112.8 112.7
Furniture and related products | 337 | 1.01 | 76.3 75.8 77.4 77.6 78.2 79.7 77.9 78.3 77.6
Miscellaneous | 339 | 3.14 | 115.2 114.4 116.2 116.7 118.6 117.9 118.5 115.0 115.9
| | |
Nondurable manufacturing | | 33.06 | 93.0 93.4 93.8 93.7 94.9 95.2 94.6 94.7 94.8
Food, beverage, and tobacco products | 311,2 | 10.67 | 102.1 102.3 103.3 103.1 104.8 105.0 104.4 104.0 104.6
Textile and product mills | 313,4 | .64 | 75.4 75.1 75.3 76.2 77.5 77.3 76.3 77.6 78.1
Apparel and leather | 315,6 | .23 | 60.7 58.5 60.0 60.0 60.8 62.7 63.3 61.2 61.3
Paper | 322 | 2.15 | 82.4 82.8 82.8 82.5 83.2 83.6 82.7 81.4 80.9
Printing and support | 323 | 1.24 | 77.7 77.4 77.3 77.6 78.1 78.7 78.2 78.1 78.4
Petroleum and coal products | 324 | 3.68 | 98.8 99.2 98.7 97.2 99.0 100.0 98.1 100.8 101.4
Chemicals | 325 | 11.44 | 89.5 90.2 90.5 90.8 91.4 91.8 91.2 91.5 91.1
Plastics and rubber products | 326 | 3.02 | 97.7 98.5 99.0 99.2 101.5 100.9 101.4 101.1 100.8
| | |
Other manufacturing (non-NAICS) | 1133,5111 | 2.28 | 66.5 65.5 64.2 63.8 63.4 62.8 63.1 63.4 63.2
| | |
Mining | 21 | 17.76 | 131.3 132.5 133.8 132.3 132.0 135.1 132.9 130.7 129.7
Utilities | 2211,2 | 9.54 | 96.3 97.0 101.2 101.6 105.3 100.0 103.2 109.1 102.7
Electric | 2211 | 8.24 | 95.1 96.2 100.2 101.1 103.2 99.6 102.0 107.6 101.8
Natural gas | 2212 | 1.30 | 104.4 102.5 107.6 105.2 119.5 101.8 111.5 119.9 108.2
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
r Revised. p Preliminary.
Note. See notes to table 1.
Table 5
Industrial Production Indexes: Special Aggregates
2007 = 100, seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 2014 | 2014 2015
Item | NAICS | Proportion| July Aug. Sept. Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p]
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | |
Total industry | | 100.00 | 104.5 104.5 105.2 105.1 106.3 106.2 105.8 105.9 105.2
| | |
Energy | | 29.30 | 116.3 117.1 119.4 118.8 120.1 120.0 119.9 121.1 118.5
Consumer products | | 5.13 | 102.0 101.3 105.1 105.0 108.5 105.4 108.0 114.8 109.1
Commercial products | | 2.87 | 103.0 103.6 106.9 106.5 108.7 106.2 107.6 109.5 106.2
Oil and gas well drilling | 213111 | .77 | 102.8 104.6 106.6 105.8 105.3 103.3 93.0 76.8 63.2
Converted fuel | | 3.88 | 95.0 97.4 99.5 99.8 101.1 97.3 99.0 101.9 99.4
Primary energy | | 16.65 | 133.0 133.9 135.7 134.5 134.9 137.6 136.3 135.7 134.9
| | |
Non-energy | | 70.70 | 100.6 100.3 100.4 100.6 101.7 101.7 101.1 100.8 100.8
Selected high-technology industries | | 2.90 | 193.5 192.8 193.9 195.7 196.0 195.1 194.0 193.9 194.4
Computers and peripheral equipment | 3341 | .31 | 70.2 73.0 72.0 72.1 73.7 71.3 70.0 70.2 71.0
Communications equipment | 3342 | .43 | 90.5 88.0 88.6 91.9 93.9 94.5 93.6 93.1 93.1
Semiconductors and related | | |
electronic components | 334412-9 | 2.17 | 309.5 308.1 310.6 312.3 310.6 309.8 308.8 308.7 309.3
| | |
Excluding selected high-technology | | |
industries | | 67.80 | 96.9 96.6 96.7 96.8 98.0 97.9 97.4 97.1 97.1
| | |
Motor vehicles and parts | 3361-3 | 4.47 | 123.9 115.0 112.9 112.3 119.1 117.6 116.8 112.6 116.3
Motor vehicles | 3361 | 2.21 | 138.5 122.4 118.7 116.0 127.4 125.2 122.9 115.7 120.7
Motor vehicle parts | 3363 | 1.95 | 114.0 110.0 109.1 110.0 112.1 111.9 112.0 110.0 112.9
| | |
Excluding motor vehicles and parts | | 63.32 | 95.1 95.4 95.7 95.8 96.6 96.6 96.1 96.1 95.9
Consumer goods | | 18.46 | 92.4 92.3 92.9 92.6 93.7 93.9 93.6 93.2 93.4
Business equipment | | 8.20 | 109.9 110.7 110.4 111.8 113.0 111.7 110.7 112.2 112.2
Construction supplies | | 4.08 | 85.5 85.8 86.1 86.6 86.7 87.6 86.8 86.5 85.8
Business supplies | | 5.87 | 86.5 86.8 86.7 87.4 87.8 87.7 87.8 87.2 87.0
Materials | | 24.49 | 95.8 96.0 96.3 96.3 97.0 97.2 96.6 96.4 96.0
| | |
Measures excluding selected high-technology | | |
industries | | |
Total industry | | 97.10 | 101.8 101.8 102.5 102.5 103.6 103.6 103.1 103.2 102.6
Manufacturing<1> | | 69.80 | 97.1 96.8 97.0 97.1 98.2 98.2 97.7 97.5 97.6
Durable | | 34.61 | 104.7 103.7 103.8 104.2 105.5 105.2 104.6 104.0 104.2
| | |
Measures excluding motor vehicles and parts | | |
Total industry | | 95.53 | 103.6 103.9 104.8 104.8 105.7 105.7 105.3 105.5 104.7
Manufacturing<1> | | 68.23 | 99.3 99.5 99.8 100.1 100.9 100.9 100.4 100.4 100.3
Durable | | 33.04 | 110.1 110.1 110.6 111.2 111.7 111.5 110.9 110.8 110.6
| | |
Measures excluding selected high-technology | | |
industries and motor vehicles and parts | | |
Total industry | | 92.62 | 100.8 101.2 102.0 102.0 102.9 102.9 102.5 102.8 101.9
Manufacturing<1> | | 65.33 | 95.5 95.7 96.0 96.1 96.9 97.0 96.5 96.5 96.4
| | |
Stage-of-process components | | |
of non-energy materials, | | |
measures of the input to | | |
Finished processors | | 10.76 | 120.8 120.4 121.3 121.9 123.4 122.7 122.7 121.8 122.5
Primary and semifinished processors | | 17.07 | 96.2 96.4 96.3 96.2 96.6 97.1 96.2 96.3 95.5
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
r Revised. p Preliminary.
Note. See notes to table 2.
<1> See note on cover page.
Table 6
Diffusion Indexes of Industrial Production
Percent
-------------------------------------------------------------------------------------------------------
Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.
-------------------------------------------------------------------------------------------------------
One Month Earlier
2013 55.1 62.2 50.6 51.6 54.5 62.2 50.6 63.5 57.4 53.8 58.7 53.5
2014 36.2 63.1 67.0 50.0 58.7 53.2 59.6 49.0 59.1 57.2 66.2 51.8
2015 46.6 46.8
Three Months Earlier
2013 67.6 63.5 55.4 53.8 51.6 56.1 55.1 64.1 58.7 61.2 61.9 56.4
2014 49.4 55.1 60.3 68.6 66.3 61.2 65.7 63.1 62.8 57.7 67.1 65.9
2015 58.5 43.6
Six Months Earlier
2013 58.3 63.8 65.1 67.6 57.7 56.7 57.4 56.7 57.4 66.3 66.2 64.1
2014 57.4 59.0 65.4 63.1 62.5 59.3 72.8 68.9 64.4 65.1 72.8 68.3
2015 61.5 56.7
-------------------------------------------------------------------------------------------------------
Note: The diffusion indexes are calculated as the percentage of series that increased over the indicated
span (one, three, or six months) plus one-half the percentage that were unchanged.
Table 7
Capacity Utilization
Percent of capacity, seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | 1972- 1994- | |
| | 2014 | 2014 95 2009| 2014 2015 | 2014 2015
Item | NAICS | proportion| ave. high low| Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p]
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total industry | | 100.00 | 80.1 85.0 66.9 | 79.3 79.5 78.8 | 79.2 79.8 79.5 79.1 79.0 78.4
| | | | |
Manufacturing<1> | | 75.18 | 78.6 84.6 63.9 | 77.5 77.8 77.2 | 77.4 78.1 78.0 77.4 77.1 77.1
Manufacturing (NAICS) | 31-33 | 72.12 | 78.5 84.7 63.7 | 78.3 78.7 78.1 | 78.2 79.0 78.8 78.3 78.0 77.9
| | | | |
Durable manufacturing | | 38.76 | 77.0 83.6 58.5 | 77.9 77.9 76.8 | 77.7 78.3 77.9 77.3 76.7 76.6
Wood products | 321 | .99 | 76.5 86.5 50.1 | 72.1 71.9 69.0 | 72.1 71.5 72.1 69.6 69.2 68.2
Nonmetallic mineral products | 327 | 1.89 | 74.2 82.6 44.1 | 64.7 65.1 65.5 | 64.8 64.9 65.7 66.0 65.5 65.0
Primary metals | 331 | 3.19 | 79.0 94.1 48.7 | 80.7 78.1 73.4 | 78.7 76.8 78.7 75.3 73.7 71.3
Fabricated metal products | 332 | 5.47 | 77.6 84.8 61.9 | 80.9 80.6 80.2 | 80.7 80.6 80.5 80.7 80.0 80.0
Machinery | 333 | 5.58 | 78.1 87.6 59.3 | 81.1 83.3 82.0 | 83.2 84.8 82.0 81.4 82.4 82.2
Computer and electronic products | 334 | 6.38 | 77.9 84.3 70.6 | 71.7 71.5 70.7 | 71.9 71.5 71.3 71.0 70.7 70.3
Electrical equip., appliances, | | | | |
and components | 335 | 1.67 | 82.6 92.5 66.0 | 84.8 84.6 84.9 | 84.5 84.9 84.2 85.0 84.6 85.3
Motor vehicles and parts | 3361-3 | 4.48 | 75.1 87.8 35.1 | 83.6 82.6 81.3 | 79.9 84.6 83.4 82.6 79.5 81.9
Aerospace and miscellaneous | | | | |
transportation equipment | 3364-9 | 4.71 | 73.5 70.3 72.0 | 78.2 78.2 78.2 | 78.3 78.3 78.1 77.5 78.6 78.5
Furniture and related products | 337 | 1.05 | 76.5 82.6 57.2 | 78.2 80.1 79.3 | 79.2 79.8 81.2 79.3 79.6 79.0
Miscellaneous | 339 | 3.34 | 76.0 80.5 68.1 | 75.0 76.0 74.7 | 75.5 76.5 75.9 76.1 73.8 74.2
| | | | |
Nondurable manufacturing | | 33.36 | 80.6 86.0 69.1 | 78.7 79.5 79.4 | 78.8 79.7 79.9 79.3 79.4 79.4
Food, beverage, and tobacco products | 311,2 | 10.53 | 80.9 85.4 75.1 | 79.7 80.6 80.4 | 79.8 80.9 80.9 80.5 80.1 80.5
Textile and product mills | 313,4 | .71 | 79.4 91.8 53.4 | 72.5 74.4 74.8 | 73.6 74.9 74.9 73.8 75.1 75.6
Apparel and leather | 315,6 | .25 | 77.4 87.2 56.9 | 75.8 78.0 79.2 | 76.4 77.5 80.1 80.9 78.3 78.4
Paper | 322 | 2.07 | 86.6 92.6 72.4 | 82.7 83.8 82.7 | 83.0 83.9 84.5 83.6 82.4 82.0
Printing and support | 323 | 1.38 | 80.5 85.0 59.8 | 72.2 73.1 73.4 | 72.5 73.1 73.8 73.3 73.2 73.6
Petroleum and coal products | 324 | 3.50 | 85.5 91.1 75.8 | 84.8 84.5 85.5 | 83.2 84.6 85.5 83.8 86.1 86.5
Chemicals | 325 | 11.87 | 77.5 82.0 65.2 | 76.5 77.3 77.1 | 76.9 77.3 77.6 77.1 77.3 76.8
Plastics and rubber products | 326 | 3.05 | 82.0 93.2 58.5 | 79.0 79.7 79.5 | 79.0 80.4 79.7 80.0 79.5 79.1
| | | | |
Other manufacturing (non-NAICS) | 1133,5111 | 3.06 | 81.2 83.2 68.6 | 59.2 57.4 57.6 | 57.8 57.5 57.0 57.4 57.7 57.6
| | | | |
Mining | 21 | 15.36 | 87.3 88.5 78.8 | 90.1 88.3 85.7 | 88.4 87.5 88.9 87.2 85.4 84.4
Utilities | 2211,2 | 9.46 | 85.9 93.3 78.5 | 76.9 79.9 81.9 | 79.4 82.2 78.0 80.5 85.1 80.0
| | | | |
Selected high-technology industries | | 3.48 | 77.8 86.3 72.2 | 70.8 70.0 67.9 | 70.5 70.1 69.2 68.4 67.8 67.5
Computers and peripheral equipment | 3341 | .39 | 77.9 87.7 83.5 | 68.1 69.6 69.1 | 69.0 70.9 68.8 68.2 68.9 70.2
Communications equipment | 3342 | .47 | 76.7 84.1 77.3 | 74.1 77.4 76.5 | 76.2 77.8 78.1 77.1 76.4 76.1
Semiconductors and related | | | | |
electronic components | 334412-9 | 2.63 | 79.5 90.8 63.3 | 70.5 68.6 66.1 | 69.6 68.5 67.6 66.8 66.1 65.5
| | | | |
Measures excluding selected high-technology | | | | |
industries | | | | |
Total industry | | 96.52 | 80.2 84.9 66.7 | 79.6 79.9 79.3 | 79.5 80.2 80.0 79.5 79.5 78.8
Manufacturing<1> | | 71.69 | 78.7 84.5 63.5 | 77.9 78.3 77.8 | 77.8 78.6 78.5 78.0 77.7 77.7
| | | | |
Stage-of-process groups | | | | |
Crude | | 19.50 | 86.3 89.6 76.8 | 87.7 86.4 84.2 | 86.6 85.8 86.9 85.4 84.1 83.2
Primary and semifinished | | 43.58 | 80.8 87.7 64.2 | 77.4 78.0 77.8 | 77.7 78.5 77.7 77.8 78.4 77.2
Finished | | 36.92 | 77.1 80.6 66.8 | 77.3 77.9 77.5 | 77.2 78.4 78.0 77.5 77.3 77.5
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
[r] Revised. [p] Preliminary.
<1> See note on cover page
Note. See notes to table 2.
Table 8
Industrial Capacity
Percent change
-----------------------------------------------------------------------------------------------------------------------------------------------------
| Average annual rate | Fourth quarter to fourth quarter | Annual rate | Monthly rate
|----------------------------|------------------------------------|----------------------------|--------------
| 1972- 1980- 1989- 1995-| | 2014 2015 | 2015
Item | 79 88 94 2015 | 2012 2013 2014 2015 | Q2 Q3 Q4 Q1 | Mar.
-----------------------------------------------------------------------------------------------------------------------------------------------------
Total industry | 3.1 1.9 2.3 2.4 | 2.6 1.9 3.1 1.8 | 3.1 3.3 3.4 2.4 | .2
| | | |
Manufacturing<1> | 3.3 2.2 2.6 2.4 | 2.2 1.8 2.2 1.7 | 2.2 2.2 2.2 1.9 | .1
| | | |
Mining | .7 .1 -.6 1.3 | 4.8 4.0 9.2 3.3 | 9.0 10.0 10.3 6.0 | .4
Utilities | 4.2 2.1 1.8 1.8 | 1.3 .4 1.0 .3 | 1.1 1.1 1.0 .5 | .0
| | | |
| | | |
Selected high-technology industries | 19.6 17.3 15.7 19.6 | 19.0 4.7 8.6 8.2 | 8.5 9.8 9.8 9.1 | .7
Manufacturing<1> ex. selected | | | |
high-technology industries | 2.6 1.3 1.6 1.1 | 1.4 1.7 1.8 1.3 | 1.8 1.8 1.8 1.5 | .1
| | | |
Stage-of-process groups | | | |
Crude | 1.6 .4 -.5 1.2 | 3.5 3.1 7.3 2.8 | 7.1 8.0 8.3 4.9 | .3
Primary and semifinished | 3.0 1.3 2.6 2.6 | 2.0 .7 1.9 1.5 | 1.9 2.2 2.1 1.8 | .1
Finished | 3.9 3.3 2.7 2.2 | 2.6 2.9 2.3 1.8 | 2.4 2.2 2.2 1.8 | .1
-----------------------------------------------------------------------------------------------------------------------------------------------------
<1> Refer to note on cover page.
Table 9
Gross Value of Final Products and Nonindustrial Supplies
Billions of 2009 dollars at annual rate, seasonally adjusted
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | 2014 2015 | 2014 2015
Item | 2009 | 2014 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p]
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | |
Final products and nonindustrial | | | |
supplies | 3,212.1 | 3,757.8 | 3,769.2 3,811.3 3,819.7 | 3,770.0 3,836.4 3,827.5 3,815.0 3,830.4 3,813.5
| | | |
Final products | 2,410.8 | 2,849.7 | 2,855.6 2,880.8 2,893.2 | 2,844.5 2,901.9 2,896.0 2,887.1 2,897.8 2,894.8
| | | |
Consumer goods | 1,811.4 | 2,054.0 | 2,051.6 2,070.8 2,094.2 | 2,039.9 2,083.8 2,088.7 2,087.0 2,098.3 2,097.3
Durable | 381.7 | 560.2 | 574.8 576.4 570.2 | 559.8 586.8 582.6 575.8 561.3 573.5
Automotive products | 225.1 | 376.8 | 390.0 388.4 383.7 | 372.5 398.9 394.0 388.4 375.4 387.4
Other durable goods | 156.5 | 183.8 | 185.4 188.3 186.8 | 187.3 188.6 189.1 187.9 186.0 186.5
Nondurable | 1,429.8 | 1,511.4 | 1,497.7 1,514.7 1,541.7 | 1,498.3 1,518.9 1,526.8 1,530.4 1,552.5 1,542.0
| | | |
Equipment, total | 599.4 | 803.4 | 812.6 818.6 805.4 | 813.8 827.0 814.9 806.9 805.7 803.5
Business and defense | 583.2 | 778.0 | 786.6 792.5 786.6 | 787.5 800.9 789.0 783.8 787.1 788.9
Business | 477.2 | 658.7 | 666.5 672.1 666.8 | 667.3 680.6 668.5 664.7 666.6 669.2
Defense and space | 106.0 | 119.9 | 120.8 121.0 120.4 | 120.8 121.1 121.2 119.7 121.1 120.5
| | | |
Nonindustrial supplies | 801.3 | 907.7 | 913.2 930.1 926.1 | 925.1 934.1 931.2 927.5 932.3 918.4
Construction supplies | 221.8 | 270.3 | 273.7 276.9 274.0 | 277.1 276.1 277.7 274.4 275.3 272.2
Business supplies | 579.5 | 638.1 | 640.3 653.9 652.8 | 648.9 658.7 654.2 653.7 657.7 646.8
Commercial energy products | 233.3 | 247.4 | 247.9 254.4 253.5 | 251.8 257.7 253.8 253.3 257.9 249.3
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
[r] Revised. [p] Preliminary.
Table 10
Gross-Value-Weighted Industrial Production: Stage-of-Process Groups
Percent change, seasonally adjusted
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | Fourth quarter to | | |
| | fourth quarter | Annual rate | Monthly rate |
| |------------------------------|------------------------------|------------------------------------------------------------| Mar. '14
| 2014 | | 2014 2015 | 2014 2015 | to
Item | gross value<1>| 2012 2013 2014 | Q3 Q4[r] Q1[p] | Oct.[r] Nov.[r] Dec.[r] Jan.[r] Feb.[r] Mar.[p] | Mar. '15
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | | | |
Finished | 2,276.2 | 4.3 3.6 4.5 | 4.8 3.6 -2.5 | .0 2.2 -.4 -.7 -.7 .4 | 2.3
Semifinished | 1,982.3 | 3.7 3.3 4.9 | 4.0 9.0 2.4 | .7 1.2 -.9 .6 .6 -.8 | 3.4
Primary | 1,454.9 | .4 3.7 1.4 | 1.2 3.3 .4 | -.4 1.5 -.7 -.8 1.8 -1.0 | -.1
Crude | 706.8 | 2.1 2.6 4.9 | 6.0 -1.1 -3.6 | -.8 -.4 2.1 -1.5 -.8 -.4 | 1.9
| | | | |
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
[r] Revised. [p] Preliminary.
<1> Billions of 2009 dollars.
Table 11
Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry
Seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) <1> | | |
1993 | .5 .4 .0 .3 -.4 .2 .3 -.1 .5 .8 .4 .5 | 3.6 .8 1.6 6.2 | 3.3
1994 | .4 .0 1.0 .5 .6 .7 .2 .6 .4 .8 .6 1.0 | 5.1 7.5 5.3 8.4 | 5.3
1995 | .2 -.1 .1 .0 .3 .4 -.4 1.3 .4 -.1 .2 .4 | 4.4 1.5 3.9 3.4 | 4.7
1996 | -.7 1.6 -.1 .9 .7 .8 -.2 .6 .6 -.1 .9 .6 | 2.7 8.5 5.0 5.5 | 4.4
| | |
1997 | .2 1.2 .7 .1 .6 .5 .9 1.0 .9 .9 .9 .3 | 7.9 6.3 9.8 10.5 | 7.2
1998 | .5 .1 .1 .3 .6 -.7 -.4 2.1 -.3 .8 .0 .4 | 4.5 2.5 2.8 5.6 | 5.8
1999 | .5 .5 .2 .2 .8 -.2 .6 .4 -.4 1.3 .5 .8 | 4.3 3.8 3.8 7.5 | 4.3
2000 | .0 .3 .4 .7 .2 .1 -.1 -.3 .4 -.3 .0 -.3 | 4.3 5.3 -.4 -1.2 | 4.0
2001 | -.7 -.6 -.3 -.3 -.7 -.7 -.5 -.2 -.4 -.5 -.5 .0 | -5.6 -5.5 -5.7 -4.5 | -3.4
| | |
2002 | .6 .0 .8 .5 .4 1.0 -.2 .0 .1 -.3 .5 -.5 | 2.9 6.5 2.4 -.2 | .2
2003 | .7 .3 -.2 -.8 .0 .0 .6 -.3 .6 .1 .8 -.1 | 2.6 -3.1 2.7 3.4 | 1.2
2004 | .3 .5 -.5 .4 .8 -.8 .8 .0 .1 1.0 .2 .7 | 2.5 1.8 2.1 5.7 | 2.3
2005 | .5 .6 -.1 .1 .2 .4 -.2 .2 -2.0 1.3 1.0 .6 | 5.7 2.2 -1.7 3.4 | 3.2
2006 | .1 .0 .3 .4 -.1 .4 .0 .3 -.2 .0 -.1 1.0 | 3.8 2.4 1.6 .8 | 2.2
| | |
2007 | -.5 1.1 .1 .7 .0 .0 .0 .1 .4 -.5 .6 .0 | 3.7 4.9 1.1 .7 | 2.5
2008 | -.2 -.3 -.3 -.7 -.5 -.2 -.5 -1.5 -4.2 .8 -1.3 -2.8 | -1.4 -5.3 -12.1 -16.0 | -3.4
2009 | -2.2 -.7 -1.5 -.8 -1.1 -.4 1.0 1.0 .7 .4 .4 .3 | -20.0 -10.8 5.2 6.3 | -11.3
2010 | 1.2 .3 .8 .4 1.6 .2 .6 .3 .3 -.3 .2 .8 | 8.3 8.7 6.5 1.5 | 5.7
2011 | .0 -.6 1.0 -.5 .3 .2 .6 .5 .1 .5 .1 .4 | 2.5 1.2 5.2 3.9 | 3.3
| | |
2012 | .9 .4 -.4 .8 .3 .1 .6 -.6 .3 -.1 1.0 .1 | 5.2 3.8 1.6 2.4 | 3.8
2013 | .1 .6 .4 -.2 .1 .2 -.2 .6 .7 .1 .6 .2 | 4.2 1.9 2.5 4.9 | 2.9
2014 | -.2 .9 .8 .1 .5 .4 .3 .0 .7 .0 1.1 -.1 | 3.9 5.7 4.1 4.6 | 4.1
2015 | -.4 .1 -.6 | -1.0 |
| | |
IP | | |
(2007=100) | | |
2013 | 98.4 99.0 99.5 99.3 99.4 99.6 99.4 100.0 100.7 100.8 101.4 101.6 | 99.0 99.4 100.1 101.3 | 99.9
2014 | 101.3 102.3 103.1 103.2 103.7 104.1 104.5 104.5 105.2 105.1 106.3 106.2 | 102.2 103.7 104.7 105.9 | 104.1
2015 | 105.8 105.9 105.2 | 105.6 |
| | |
Capacity | | |
(percent of | | |
2007 output) | | |
2013 | 127.2 127.3 127.5 127.7 127.9 128.0 128.2 128.5 128.7 128.9 129.2 129.4 | 127.3 127.9 128.5 129.2 | 128.2
2014 | 129.7 130.0 130.4 130.7 131.0 131.4 131.7 132.1 132.5 132.8 133.2 133.6 | 130.0 131.0 132.1 133.2 | 131.6
2015 | 133.7 134.0 134.3 | 134.0 |
| | |
Utilization | | |
(percent) | | |
1993 | 81.3 81.5 81.3 81.4 81.0 81.1 81.2 81.1 81.3 81.8 82.0 82.3 | 81.3 81.2 81.2 82.1 | 81.4
1994 | 82.5 82.3 83.0 83.2 83.4 83.7 83.6 83.8 83.8 84.2 84.4 85.0 | 82.6 83.4 83.7 84.5 | 83.6
1995 | 84.8 84.4 84.3 83.9 83.9 83.9 83.2 84.0 84.0 83.6 83.4 83.4 | 84.5 83.9 83.8 83.5 | 83.9
1996 | 82.5 83.4 83.0 83.3 83.6 83.9 83.3 83.5 83.6 83.2 83.5 83.6 | 83.0 83.6 83.5 83.4 | 83.4
| | |
1997 | 83.3 83.9 84.0 83.6 83.7 83.6 83.9 84.2 84.4 84.6 84.8 84.5 | 83.7 83.7 84.2 84.7 | 84.1
1998 | 84.4 83.9 83.4 83.2 83.2 82.2 81.4 82.6 82.0 82.3 81.8 81.8 | 83.9 82.8 82.0 81.9 | 82.7
1999 | 81.8 81.8 81.6 81.5 81.8 81.4 81.6 81.6 81.0 81.8 81.9 82.2 | 81.7 81.5 81.4 81.9 | 81.7
2000 | 81.9 81.9 81.9 82.2 82.1 81.9 81.6 81.0 81.1 80.6 80.3 79.9 | 81.9 82.1 81.2 80.3 | 81.4
2001 | 79.1 78.3 77.9 77.5 76.7 76.0 75.4 75.1 74.7 74.2 73.6 73.5 | 78.4 76.7 75.1 73.8 | 76.0
| | |
2002 | 73.9 73.8 74.3 74.6 74.8 75.5 75.3 75.3 75.4 75.2 75.6 75.2 | 74.0 75.0 75.3 75.3 | 74.9
2003 | 75.8 76.0 75.9 75.3 75.4 75.4 75.9 75.7 76.2 76.2 76.8 76.8 | 75.9 75.4 75.9 76.6 | 75.9
2004 | 77.0 77.4 77.1 77.4 78.0 77.4 78.0 78.1 78.1 78.9 79.0 79.5 | 77.2 77.6 78.1 79.1 | 78.0
2005 | 79.8 80.3 80.1 80.1 80.2 80.4 80.1 80.1 78.4 79.3 79.9 80.3 | 80.1 80.2 79.5 79.8 | 79.9
2006 | 80.2 80.2 80.3 80.4 80.2 80.4 80.3 80.4 80.1 79.9 79.7 80.3 | 80.2 80.4 80.3 80.0 | 80.2
| | |
2007 | 79.7 80.4 80.4 80.8 80.7 80.6 80.5 80.5 80.8 80.4 80.8 80.8 | 80.2 80.7 80.6 80.7 | 80.5
2008 | 80.7 80.5 80.3 79.8 79.4 79.3 78.9 77.7 74.3 74.9 73.9 71.7 | 80.5 79.5 77.0 73.5 | 77.6
2009 | 70.1 69.5 68.5 67.9 67.2 66.9 67.6 68.3 68.9 69.3 69.7 70.0 | 69.4 67.3 68.3 69.7 | 68.7
2010 | 71.0 71.4 72.1 72.5 73.8 74.1 74.7 75.0 75.3 75.1 75.3 76.0 | 71.5 73.5 75.0 75.5 | 73.8
2011 | 76.0 75.6 76.3 75.8 76.0 76.1 76.4 76.6 76.6 76.8 76.7 76.8 | 75.9 76.0 76.5 76.8 | 76.3
| | |
2012 | 77.3 77.4 76.9 77.4 77.4 77.3 77.6 77.0 77.0 76.9 77.5 77.5 | 77.2 77.4 77.2 77.3 | 77.3
2013 | 77.4 77.8 78.0 77.8 77.8 77.8 77.5 77.8 78.3 78.2 78.5 78.5 | 77.7 77.8 77.9 78.4 | 77.9
2014 | 78.1 78.6 79.1 79.0 79.1 79.2 79.3 79.1 79.4 79.2 79.8 79.5 | 78.6 79.1 79.3 79.5 | 79.1
2015 | 79.1 79.0 78.4 | 78.8 |
-------------------------------------------------------------------------------------------------------------------------------------------
<1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Table 12
Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1>
Seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) <2> | | |
1993 | 1.0 .2 -.2 .5 -.1 -.2 .2 -.2 .6 .9 .4 .5 | 4.5 1.3 .7 7.0 | 3.5
1994 | .2 .1 1.3 .8 .7 .3 .4 .8 .5 1.0 .8 1.1 | 4.9 9.6 6.2 10.1 | 5.9
1995 | .2 -.2 .2 -.1 .1 .5 -.6 1.2 .9 -.1 .1 .4 | 4.6 1.0 3.3 4.3 | 5.2
1996 | -.8 1.6 -.2 1.1 .7 1.0 .2 .6 .8 -.2 .8 .8 | 1.8 9.7 7.4 5.7 | 4.8
| | |
1997 | .1 1.4 1.1 -.2 .8 .7 .8 1.2 .9 .9 1.1 .4 | 9.4 7.4 11.0 11.4 | 8.4
1998 | .8 .1 -.1 .5 .5 -.8 -.4 2.5 -.3 1.0 .2 .5 | 6.1 1.9 3.1 7.8 | 6.6
1999 | .3 .8 -.1 .3 1.0 -.3 .4 .6 -.4 1.5 .6 .7 | 4.9 4.3 3.4 8.9 | 5.0
2000 | .1 .2 .7 .7 -.1 .2 .1 -.7 .4 -.3 -.3 -.6 | 4.7 5.1 -.5 -2.8 | 4.2
2001 | -.7 -.6 -.3 -.3 -.8 -.7 -.5 -.5 -.2 -.6 -.3 .3 | -6.5 -5.7 -6.2 -4.2 | -4.1
| | |
2002 | .5 .0 .8 .2 .6 1.1 -.3 .2 .1 -.4 .4 -.5 | 3.5 5.9 3.1 -.4 | .3
2003 | .5 .1 .2 -.9 .1 .4 .4 -.5 .8 .1 1.0 -.3 | 1.8 -2.1 2.4 3.8 | 1.3
2004 | .0 .6 -.2 .4 .8 -.7 .9 .4 .0 1.0 -.1 .6 | 2.1 3.0 3.7 5.4 | 2.8
2005 | .8 .8 -.4 .3 .4 .2 -.2 .3 -1.1 1.5 .8 .1 | 6.4 2.4 -.4 5.9 | 4.0
2006 | .8 -.2 -.1 .5 -.5 .3 -.2 .6 .0 -.4 .0 1.5 | 3.9 .9 .9 1.5 | 2.5
| | |
2007 | -.5 .4 .8 .7 -.1 .3 .2 -.4 .5 -.4 .5 .1 | 4.0 5.8 .9 .7 | 2.7
2008 | -.4 -.6 -.3 -1.1 -.5 -.6 -1.1 -1.2 -3.4 -.6 -2.4 -3.4 | -2.6 -7.5 -13.4 -21.6 | -4.7
2009 | -2.9 -.3 -1.8 -.7 -1.1 -.3 1.4 1.0 .8 .2 1.0 -.1 | -23.9 -10.9 7.0 6.9 | -13.6
2010 | 1.1 -.1 1.3 .9 1.5 .0 .8 .1 .1 .1 .2 .4 | 7.0 11.4 5.7 1.6 | 6.1
2011 | .2 .0 .7 -.6 .2 .1 .8 .3 .4 .5 -.1 .7 | 2.9 .0 5.4 4.3 | 3.4
| | |
2012 | 1.0 .6 -.3 .8 -.2 .4 .4 -.5 .2 -.4 1.3 .7 | 7.3 3.0 1.2 2.5 | 4.1
2013 | -.2 .6 .1 -.2 .3 .3 -.4 .7 .3 .4 .3 .2 | 4.4 1.3 1.9 4.2 | 2.6
2014 | -1.0 1.3 .8 .3 .4 .4 .8 -.3 .2 .2 1.1 .0 | 1.4 7.0 4.4 3.8 | 3.5
2015 | -.6 -.2 .1 | -1.2 |
| | |
IP | | |
(2007 = 100) | | |
2013 | 95.4 95.9 96.0 95.8 96.1 96.4 96.0 96.7 96.9 97.3 97.6 97.7 | 95.8 96.1 96.5 97.5 | 96.5
2014 | 96.8 98.0 98.8 99.1 99.5 99.9 100.8 100.4 100.6 100.8 101.9 101.9 | 97.9 99.5 100.6 101.5 | 99.8
2015 | 101.3 101.1 101.2 | 101.2 |
| | |
Capacity | | |
(percent of | | |
2007 output) | | |
2013 | 125.8 126.0 126.2 126.3 126.5 126.7 126.9 127.1 127.3 127.5 127.7 127.9 | 126.0 126.5 127.1 127.7 | 126.8
2014 | 128.1 128.4 128.6 128.8 129.0 129.3 129.5 129.8 130.0 130.2 130.5 130.7 | 128.4 129.0 129.8 130.5 | 129.4
2015 | 130.9 131.1 131.3 | 131.1 |
| | |
Utilization | | |
(percent) | | |
1993 | 80.4 80.4 80.1 80.4 80.2 80.0 80.1 79.8 80.2 80.8 81.0 81.3 | 80.3 80.2 80.0 81.0 | 80.4
1994 | 81.3 81.2 82.0 82.5 82.8 82.7 82.8 83.1 83.2 83.7 84.0 84.6 | 81.5 82.7 83.0 84.1 | 82.8
1995 | 84.4 83.9 83.7 83.3 83.1 83.1 82.3 82.8 83.2 82.7 82.4 82.3 | 84.0 83.2 82.8 82.5 | 83.1
1996 | 81.3 82.1 81.5 82.0 82.2 82.6 82.3 82.4 82.6 82.0 82.2 82.4 | 81.6 82.3 82.4 82.2 | 82.1
| | |
1997 | 82.1 82.7 83.1 82.5 82.7 82.7 82.8 83.2 83.3 83.4 83.8 83.5 | 82.6 82.6 83.1 83.6 | 83.0
1998 | 83.5 83.0 82.3 82.1 81.9 80.7 79.9 81.3 80.6 81.0 80.7 80.7 | 82.9 81.5 80.6 80.8 | 81.5
1999 | 80.6 80.8 80.4 80.3 80.7 80.1 80.1 80.2 79.6 80.5 80.6 80.8 | 80.6 80.3 80.0 80.6 | 80.4
2000 | 80.6 80.4 80.6 80.8 80.4 80.2 80.0 79.2 79.2 78.6 78.1 77.4 | 80.5 80.5 79.5 78.0 | 79.6
2001 | 76.6 75.9 75.5 75.1 74.3 73.6 73.1 72.6 72.3 71.7 71.4 71.6 | 76.0 74.3 72.7 71.6 | 73.6
| | |
2002 | 71.9 71.8 72.3 72.5 72.8 73.7 73.4 73.5 73.6 73.3 73.7 73.3 | 72.0 73.0 73.5 73.4 | 73.0
2003 | 73.7 73.8 73.9 73.2 73.3 73.6 73.9 73.5 74.1 74.2 74.9 74.8 | 73.8 73.4 73.8 74.6 | 73.9
2004 | 74.8 75.3 75.3 75.6 76.2 75.7 76.4 76.7 76.6 77.4 77.3 77.7 | 75.1 75.8 76.6 77.4 | 76.2
2005 | 78.2 78.7 78.2 78.3 78.4 78.4 78.0 78.1 77.1 78.1 78.6 78.5 | 78.3 78.3 77.7 78.4 | 78.2
2006 | 79.0 78.7 78.5 78.8 78.3 78.5 78.2 78.5 78.4 78.0 77.8 78.8 | 78.7 78.5 78.3 78.2 | 78.4
| | |
2007 | 78.2 78.4 78.8 79.2 78.9 79.0 78.9 78.5 78.7 78.3 78.6 78.6 | 78.5 79.0 78.7 78.5 | 78.7
2008 | 78.3 77.8 77.6 76.8 76.5 76.2 75.4 74.6 72.1 71.8 70.2 67.9 | 77.9 76.5 74.0 70.0 | 74.6
2009 | 66.1 66.0 65.0 64.6 64.0 63.9 64.9 65.7 66.3 66.5 67.3 67.4 | 65.7 64.2 65.6 67.1 | 65.6
2010 | 68.2 68.3 69.3 70.0 71.2 71.3 72.0 72.2 72.4 72.5 72.7 73.0 | 68.6 70.8 72.2 72.7 | 71.1
2011 | 73.2 73.3 73.8 73.3 73.4 73.5 74.0 74.2 74.3 74.6 74.4 74.8 | 73.4 73.4 74.2 74.6 | 73.9
| | |
2012 | 75.5 75.8 75.4 75.8 75.5 75.6 75.8 75.3 75.3 74.8 75.7 76.1 | 75.5 75.6 75.4 75.5 | 75.5
2013 | 75.8 76.1 76.1 75.8 75.9 76.1 75.6 76.1 76.2 76.3 76.4 76.4 | 76.0 75.9 76.0 76.4 | 76.1
2014 | 75.5 76.4 76.8 77.0 77.1 77.3 77.8 77.4 77.4 77.4 78.1 78.0 | 76.2 77.1 77.5 77.8 | 77.2
2015 | 77.4 77.1 77.1 | 77.2 |
-------------------------------------------------------------------------------------------------------------------------------------------
<1> See note on cover page.
<2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Table 13
Historical Statistics for Industrial Production, Capacity, and Utilization: Total Industry Excluding Selected High-Technology Industries
Seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) <1> | | |
1993 | .5 .3 -.1 .3 -.4 .2 .3 -.1 .4 .7 .3 .5 | 3.1 .2 1.3 5.3 | 2.5
1994 | .4 .0 .9 .3 .4 .6 .0 .4 .1 .6 .4 .9 | 4.4 5.4 3.2 5.7 | 4.0
1995 | .1 -.2 -.1 -.3 .1 .2 -.6 1.1 .1 -.4 .1 .1 | 2.8 -1.2 1.5 .4 | 2.5
1996 | -1.0 1.3 -.3 .8 .6 .6 -.5 .4 .4 -.4 .7 .5 | -.5 6.6 2.0 2.9 | 1.7
| | |
1997 | .0 .9 .4 -.2 .3 .2 .6 .7 .6 .7 .6 .1 | 5.1 2.5 6.4 7.5 | 4.2
1998 | .3 .0 .0 .2 .6 -.9 -.7 1.9 -.6 .5 -.3 .1 | 2.0 .7 -.3 2.3 | 3.0
1999 | .2 .1 -.1 -.1 .6 -.5 .3 .4 -.5 1.2 .2 .5 | .7 .3 1.0 5.5 | 1.1
2000 | -.3 .0 .1 .4 -.1 -.1 -.4 -.5 .3 -.4 -.2 -.5 | .4 1.6 -3.1 -2.7 | 1.0
2001 | -.7 -.5 -.3 -.2 -.6 -.5 -.3 -.1 -.4 -.5 -.5 -.1 | -5.9 -4.5 -4.4 -4.5 | -4.0
| | |
2002 | .7 -.1 .8 .4 .5 .9 -.3 -.1 .1 -.3 .5 -.6 | 2.6 6.4 1.8 -.8 | .3
2003 | .6 .1 -.3 -.9 -.1 -.1 .4 -.4 .5 .0 .7 -.1 | 1.5 -4.7 .9 2.4 | .2
2004 | .2 .5 -.6 .4 .8 -.8 .8 .0 .0 1.0 .2 .6 | 2.1 2.0 2.1 5.2 | 1.7
2005 | .4 .6 -.2 .0 .1 .4 -.3 .0 -2.2 1.2 1.0 .5 | 4.8 1.3 -3.0 2.1 | 2.5
2006 | .1 .0 .2 .4 -.2 .3 .0 .2 -.3 -.1 -.2 1.0 | 3.4 1.9 .7 .1 | 1.4
| | |
2007 | -.5 1.0 -.1 .6 .1 .1 .0 .1 .3 -.7 .4 -.1 | 3.0 4.0 1.1 -1.0 | 1.8
2008 | -.3 -.4 -.4 -.8 -.6 -.2 -.4 -1.6 -4.3 1.1 -1.1 -2.7 | -2.5 -6.4 -12.3 -14.9 | -4.2
2009 | -2.2 -.7 -1.6 -.9 -1.1 -.4 1.0 1.0 .7 .3 .3 .3 | -19.7 -11.7 5.0 5.8 | -11.3
2010 | 1.1 .1 .6 .3 1.6 .2 .6 .2 .2 -.4 .1 .8 | 7.2 7.9 6.2 .7 | 5.0
2011 | .0 -.6 1.1 -.5 .3 .2 .7 .4 .1 .6 .1 .4 | 1.8 1.1 5.0 3.8 | 2.9
| | |
2012 | .9 .3 -.5 .8 .3 .0 .6 -.6 .2 -.2 1.0 .1 | 4.9 3.0 1.3 1.8 | 3.5
2013 | .0 .7 .4 -.2 .1 .2 -.2 .5 .8 .1 .6 .2 | 4.3 1.6 2.3 5.0 | 2.6
2014 | -.3 .9 .8 .0 .4 .4 .4 .0 .7 -.1 1.1 -.1 | 3.9 5.4 4.2 4.6 | 4.1
2015 | -.4 .1 -.7 | -.9 |
| | |
IP | | |
(2007 = 100) | | |
2013 | 96.1 96.7 97.1 96.9 97.0 97.2 97.0 97.5 98.2 98.3 98.9 99.1 | 96.6 97.0 97.6 98.8 | 97.5
2014 | 98.8 99.7 100.6 100.6 101.0 101.4 101.8 101.8 102.5 102.5 103.6 103.6 | 99.7 101.0 102.1 103.2 | 101.5
2015 | 103.1 103.2 102.6 | 103.0 |
| | |
Capacity | | |
(percent of | | |
2007 output) | | |
2013 | 123.7 123.8 124.0 124.2 124.3 124.5 124.7 124.9 125.1 125.3 125.6 125.8 | 123.8 124.3 124.9 125.6 | 124.7
2014 | 126.1 126.3 126.6 126.9 127.2 127.6 127.9 128.2 128.5 128.9 129.2 129.5 | 126.4 127.2 128.2 129.2 | 127.7
2015 | 129.7 129.9 130.1 | 129.9 |
| | |
Utilization | | |
(percent) | | |
1993 | 81.4 81.6 81.4 81.6 81.1 81.2 81.4 81.2 81.4 81.9 82.1 82.4 | 81.5 81.3 81.3 82.1 | 81.6
1994 | 82.6 82.5 83.1 83.2 83.4 83.8 83.6 83.8 83.7 84.1 84.3 84.9 | 82.7 83.5 83.7 84.4 | 83.6
1995 | 84.9 84.5 84.3 83.9 83.8 83.8 83.2 83.9 83.8 83.3 83.3 83.2 | 84.6 83.8 83.6 83.3 | 83.8
1996 | 82.3 83.2 82.8 83.3 83.6 84.0 83.4 83.6 83.8 83.3 83.7 83.9 | 82.8 83.7 83.6 83.6 | 83.4
| | |
1997 | 83.6 84.1 84.2 83.7 83.7 83.6 83.9 84.1 84.3 84.6 84.8 84.6 | 84.0 83.7 84.1 84.7 | 84.1
1998 | 84.5 84.1 83.8 83.6 83.8 82.7 81.8 83.1 82.4 82.6 82.1 81.9 | 84.1 83.4 82.5 82.2 | 83.0
1999 | 81.8 81.7 81.5 81.2 81.5 80.9 81.0 81.1 80.6 81.5 81.5 81.8 | 81.7 81.2 80.9 81.6 | 81.3
2000 | 81.4 81.3 81.3 81.6 81.4 81.2 80.8 80.3 80.4 80.0 79.8 79.3 | 81.4 81.4 80.5 79.7 | 80.7
2001 | 78.7 78.2 77.9 77.7 77.1 76.6 76.2 76.0 75.7 75.2 74.8 74.6 | 78.2 77.1 76.0 74.9 | 76.5
| | |
2002 | 75.1 74.9 75.5 75.8 76.1 76.8 76.6 76.5 76.6 76.4 76.8 76.4 | 75.2 76.2 76.6 76.5 | 76.1
2003 | 77.0 77.1 76.9 76.3 76.3 76.2 76.6 76.3 76.8 76.7 77.3 77.2 | 77.0 76.3 76.6 77.1 | 76.7
2004 | 77.4 77.9 77.5 77.8 78.5 77.8 78.5 78.5 78.6 79.3 79.5 80.0 | 77.6 78.0 78.5 79.6 | 78.4
2005 | 80.3 80.7 80.6 80.6 80.6 80.8 80.5 80.5 78.6 79.4 80.1 80.4 | 80.5 80.7 79.8 80.0 | 80.3
2006 | 80.4 80.3 80.3 80.5 80.2 80.3 80.2 80.3 79.9 79.7 79.5 80.2 | 80.3 80.3 80.1 79.8 | 80.1
| | |
2007 | 79.7 80.4 80.3 80.7 80.7 80.8 80.8 80.9 81.2 80.7 81.0 81.0 | 80.1 80.8 81.0 80.9 | 80.7
2008 | 80.8 80.5 80.3 79.6 79.2 79.0 78.6 77.3 73.9 74.6 73.7 71.7 | 80.5 79.3 76.6 73.3 | 77.4
2009 | 70.0 69.4 68.3 67.6 66.9 66.7 67.4 68.2 68.8 69.1 69.5 69.9 | 69.2 67.1 68.1 69.5 | 68.5
2010 | 70.9 71.1 71.8 72.2 73.5 73.8 74.4 74.8 75.0 74.9 75.0 75.7 | 71.3 73.2 74.7 75.2 | 73.6
2011 | 75.7 75.3 76.0 75.7 75.9 76.0 76.4 76.6 76.6 76.9 76.9 77.0 | 75.7 75.8 76.6 76.9 | 76.2
| | |
2012 | 77.6 77.7 77.2 77.6 77.7 77.6 77.9 77.3 77.3 77.1 77.8 77.7 | 77.5 77.6 77.5 77.5 | 77.5
2013 | 77.7 78.1 78.3 78.0 78.0 78.0 77.8 78.1 78.5 78.4 78.7 78.8 | 78.0 78.0 78.1 78.6 | 78.2
2014 | 78.4 78.9 79.4 79.3 79.4 79.5 79.6 79.4 79.8 79.5 80.2 80.0 | 78.9 79.4 79.6 79.9 | 79.5
2015 | 79.5 79.5 78.8 | 79.3 |
-------------------------------------------------------------------------------------------------------------------------------------------
<1> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.
Table 14
Historical Statistics for Industrial Production, Capacity, and Utilization: Manufacturing <1> Excluding Selected High-Technology Industries
Seasonally adjusted
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
Year | Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.| Q1 Q2 Q3 Q4| Annual
-------------------------------------------------------------------------------------------------------------------------------------------
| | |
IP (percent | | |
change) <2> | | |
1993 | 1.1 .1 -.3 .5 -.1 -.2 .2 -.3 .5 .8 .3 .5 | 4.0 .5 .2 6.0 | 2.5
1994 | .1 .1 1.1 .6 .5 .2 .2 .6 .2 .7 .6 .9 | 4.0 7.1 3.8 7.0 | 4.4
1995 | .1 -.4 -.1 -.4 -.1 .3 -.8 .9 .5 -.4 -.1 .1 | 2.7 -2.3 .3 .7 | 2.5
1996 | -1.2 1.3 -.4 1.0 .6 .8 -.1 .3 .6 -.5 .7 .7 | -2.0 7.4 4.0 2.6 | 1.5
| | |
1997 | -.1 1.1 .8 -.6 .5 .4 .5 .9 .5 .7 .8 .1 | 6.2 2.9 7.0 7.9 | 4.9
1998 | .6 -.1 -.3 .2 .4 -1.2 -.8 2.3 -.7 .7 -.1 .2 | 3.3 -.3 -.6 4.1 | 3.4
1999 | -.1 .4 -.4 -.1 .8 -.7 .0 .6 -.5 1.4 .3 .4 | .8 .3 .2 6.7 | 1.4
2000 | -.3 -.2 .3 .4 -.6 .0 -.2 -1.0 .3 -.4 -.6 -.8 | .2 .7 -3.8 -4.7 | .7
2001 | -.6 -.5 -.3 -.1 -.7 -.6 -.2 -.5 -.2 -.7 -.2 .2 | -7.0 -4.5 -4.6 -4.2 | -4.8
| | |
2002 | .6 -.2 .8 .2 .6 1.1 -.4 .1 .1 -.4 .4 -.6 | 3.2 5.7 2.5 -1.1 | .4
2003 | .4 -.1 .1 -1.0 -.1 .2 .2 -.7 .7 -.1 .9 -.3 | .5 -4.0 .2 2.6 | .0
2004 | -.1 .7 -.2 .4 .8 -.8 1.0 .4 -.1 1.0 -.1 .6 | 1.6 3.3 3.7 4.9 | 2.0
2005 | .6 .7 -.5 .2 .3 .1 -.4 .2 -1.4 1.5 .7 .0 | 5.2 1.3 -2.0 4.4 | 3.1
2006 | .8 -.3 -.1 .5 -.6 .2 -.3 .5 -.1 -.4 .0 1.5 | 3.3 .1 -.2 .6 | 1.5
| | |
2007 | -.6 .3 .6 .5 .0 .5 .2 -.5 .3 -.6 .3 .0 | 3.2 4.7 1.0 -1.6 | 1.8
2008 | -.5 -.8 -.4 -1.2 -.6 -.6 -1.1 -1.3 -3.5 -.4 -2.1 -3.2 | -4.3 -9.2 -13.7 -20.5 | -5.8
2009 | -2.9 -.3 -2.0 -.9 -1.2 -.3 1.4 1.0 .8 .1 1.0 -.2 | -23.8 -12.1 6.8 6.2 | -13.8
2010 | 1.0 -.3 1.2 .9 1.5 .0 .8 .0 .0 .0 .0 .2 | 5.4 10.4 5.3 .6 | 5.1
2011 | .1 .0 .7 -.7 .2 .1 .9 .2 .4 .6 -.1 .7 | 2.0 -.1 5.2 4.3 | 2.8
| | |
2012 | 1.1 .5 -.4 .7 -.3 .3 .4 -.5 .1 -.6 1.3 .7 | 7.0 1.9 .8 1.7 | 3.7
2013 | -.3 .7 .1 -.3 .2 .3 -.5 .7 .3 .3 .3 .2 | 4.6 .8 1.6 4.3 | 2.3
2014 | -1.1 1.3 .8 .3 .3 .4 .9 -.3 .2 .1 1.2 .0 | 1.3 6.6 4.5 3.7 | 3.3
2015 | -.6 -.2 .1 | -1.1 |
| | |
IP | | |
(2007 = 100) | | |
2013 | 92.1 92.7 92.8 92.5 92.7 93.0 92.6 93.2 93.5 93.8 94.1 94.3 | 92.5 92.7 93.1 94.1 | 93.1
2014 | 93.3 94.5 95.3 95.6 95.9 96.3 97.1 96.8 97.0 97.1 98.2 98.2 | 94.4 95.9 97.0 97.9 | 96.2
2015 | 97.7 97.5 97.6 | 97.6 |
| | |
Capacity | | |
(percent of | | |
2007 output) | | |
2013 | 121.1 121.3 121.4 121.6 121.7 121.9 122.1 122.2 122.4 122.6 122.8 123.0 | 121.3 121.7 122.2 122.8 | 122.0
2014 | 123.2 123.3 123.5 123.7 123.9 124.1 124.2 124.4 124.6 124.8 125.0 125.2 | 123.3 123.9 124.4 125.0 | 124.2
2015 | 125.3 125.4 125.6 | 125.4 |
| | |
Utilization | | |
(percent) | | |
1993 | 80.5 80.5 80.2 80.5 80.3 80.0 80.2 79.9 80.2 80.8 81.0 81.3 | 80.4 80.3 80.1 81.0 | 80.4
1994 | 81.3 81.2 82.1 82.4 82.7 82.7 82.8 83.1 83.1 83.5 83.8 84.5 | 81.5 82.6 83.0 83.9 | 82.8
1995 | 84.4 83.9 83.7 83.2 82.9 83.0 82.1 82.6 82.9 82.4 82.1 82.0 | 84.0 83.0 82.5 82.2 | 82.9
1996 | 80.9 81.7 81.2 81.9 82.2 82.6 82.4 82.4 82.7 82.0 82.4 82.7 | 81.3 82.2 82.5 82.3 | 82.1
| | |
1997 | 82.3 82.9 83.3 82.5 82.6 82.6 82.6 83.0 83.1 83.3 83.7 83.4 | 82.8 82.5 82.9 83.5 | 82.9
1998 | 83.5 83.1 82.6 82.4 82.4 81.2 80.2 81.8 80.9 81.2 80.9 80.8 | 83.1 82.0 81.0 80.9 | 81.7
1999 | 80.5 80.6 80.0 79.8 80.2 79.4 79.3 79.6 79.0 80.0 80.1 80.2 | 80.4 79.8 79.3 80.1 | 79.9
2000 | 79.9 79.6 79.7 79.9 79.4 79.2 79.0 78.1 78.2 77.8 77.3 76.5 | 79.7 79.5 78.4 77.2 | 78.7
2001 | 76.0 75.5 75.2 75.1 74.5 74.0 73.8 73.4 73.2 72.7 72.5 72.6 | 75.6 74.5 73.5 72.6 | 74.1
| | |
2002 | 73.1 73.0 73.5 73.7 74.1 75.0 74.7 74.8 74.9 74.6 74.9 74.6 | 73.2 74.3 74.8 74.7 | 74.2
2003 | 74.9 74.9 75.0 74.2 74.2 74.4 74.6 74.1 74.7 74.6 75.4 75.2 | 74.9 74.3 74.4 75.1 | 74.7
2004 | 75.2 75.7 75.6 76.0 76.6 76.1 76.8 77.1 77.1 77.8 77.7 78.2 | 75.5 76.2 77.0 77.9 | 76.7
2005 | 78.6 79.1 78.6 78.7 78.8 78.8 78.4 78.4 77.2 78.2 78.7 78.6 | 78.8 78.8 78.0 78.5 | 78.5
2006 | 79.1 78.7 78.5 78.7 78.2 78.3 77.9 78.2 78.0 77.6 77.5 78.6 | 78.7 78.4 78.0 77.9 | 78.3
| | |
2007 | 78.0 78.2 78.6 78.9 78.9 79.2 79.3 78.8 79.1 78.5 78.7 78.7 | 78.3 79.0 79.1 78.7 | 78.7
2008 | 78.3 77.7 77.4 76.4 76.0 75.6 74.8 74.0 71.4 71.2 69.8 67.7 | 77.8 76.0 73.4 69.6 | 74.2
2009 | 65.8 65.7 64.5 64.1 63.5 63.5 64.5 65.3 66.0 66.2 67.0 67.1 | 65.3 63.7 65.3 66.8 | 65.3
2010 | 67.9 67.8 68.8 69.5 70.7 70.9 71.6 71.8 71.9 72.1 72.2 72.5 | 68.2 70.4 71.7 72.3 | 70.6
2011 | 72.7 72.7 73.4 72.9 73.1 73.2 73.9 74.0 74.3 74.7 74.6 75.0 | 72.9 73.1 74.1 74.7 | 73.7
| | |
2012 | 75.7 76.1 75.6 76.1 75.7 75.9 76.1 75.6 75.5 75.0 75.9 76.4 | 75.8 75.9 75.7 75.8 | 75.8
2013 | 76.1 76.5 76.4 76.1 76.1 76.3 75.8 76.3 76.4 76.5 76.6 76.7 | 76.3 76.2 76.2 76.6 | 76.3
2014 | 75.8 76.7 77.2 77.3 77.4 77.6 78.2 77.8 77.8 77.8 78.6 78.5 | 76.5 77.4 77.9 78.3 | 77.5
2015 | 78.0 77.7 77.7 | 77.8 |
-------------------------------------------------------------------------------------------------------------------------------------------
<1> See note on cover page.
<2> Quarterly percent changes are at annual rates. Annual percentage changes are calculated from annual averages.
Note. Selected high-technology industries are computers, communications equipment, and semiconductors and related electronic components.
Explanatory Note
The Industrial Production and Capacity Utilization statistical release,
which is published around the middle of the month, reports measures of
output, capacity, and capacity utilization in manufacturing, mining, and
the electric and gas utilities industries. More detailed descriptions of
industrial production and capacity utilization are available on the Board's
website at www.federalreserve.gov/releases/G17/About.htm. In addition, files
containing data shown in the release, more detailed series
that were published in the G.17 prior to December 2000, and
historical data are available from the Data Download Program on the Board's website.
Instructions for searching for and downloading specific series are provided as well.
Industrial Production
Coverage. The industrial production (IP) index measures the real
output of all manufacturing, mining, and electric and gas utility
establishments located in the United States, regardless of their ownership,
but not those located in U.S. territories; the reference period for the index is 2007.
Manufacturing consists of those industries included in the North American Industry
Classification System (NAICS) definition of manufacturing plus
those industries- newspaper, periodical, book, and directory
publishing plus logging-that have traditionally been considered to
be manufacturing. For the period since 1997, the total IP index has
been constructed from 312 individual series based on the 2007 NAICS
codes. These individual series are classified in two ways: (1) market
groups, and (2) industry groups. Market groups consist of products
and materials. Total products are the aggregate of final products,
such as consumer goods and equipment, and nonindustrial supplies
(which are inputs to nonindustrial sectors). Materials are inputs in
the manufacture of products. Major industry groups include
three-digit NAICS industries and aggregates of these industries-for
example, durable and nondurable manufacturing, mining, and utilities.
A complete description of the market and industry structures,
including details regarding series classification, relative importance
weights, and data sources, is available on the Board's website
(www.federalreserve.gov/releases/G17/About.htm).
Source Data. On a monthly basis, the individual indexes of industrial
production are constructed from two main types of source data: (1) output
measured in physical units and (2) data on inputs to the production
process, from which output is inferred. Data on physical products, such as
tons of steel or barrels of oil, are obtained from private trade associations
and from government agencies; data of this type are used to estimate
monthly IP wherever possible and appropriate. Production indexes for a
few industries are derived by dividing estimated nominal output
(calculated using unit production and unit values or sales) by a
corresponding Fisher price index; the most notable of these fall within the
high-technology grouping and include computers, communications
equipment, and semiconductors. When suitable direct measures of product
are not available, estimates of output are based on production-worker
hours by industry. Data on hours worked by production workers are
collected in the monthly establishment survey conducted by the Bureau of
Labor Statistics. The factors used to convert inputs into estimates of
production are based on historical relationships between the inputs and the
comprehensive annual data used to benchmark the IP indexes; these
factors also may be influenced by technological or cyclical developments.
The annual data used in benchmarking the individual IP indexes are
constructed from a variety of source data, such as the quinquennial
Censuses of Manufactures and Mineral Industries and the Annual Survey
of Manufactures, prepared by the Bureau of the Census; the Minerals
Yearbook, prepared by the United States Geological Survey of the
Department of the Interior; and publications of the Department of Energy.
Aggregation Methodology and Weights. The aggregation method for
the IP index is a version of the Fisher-ideal index formula. (For a detailed
discussion of the aggregation method, see the Federal Reserve Bulletins
of February 1997 and March 2001.) In the IP index, series that measure the
output of an individual industry are combined using weights derived from
their proportion in the total value-added output of all industries. The IP
index, which extends back to 1919, is built as a chain-type index since
1972. The current formula for the growth in monthly IP (or any of the
sub-aggregates) since 1972 is shown below. An output index for month m is
denoted by I^A_m for aggregate A and I_m for each of its components.
The monthly price measure in the formula (p_m) is interpolated from an annual series of
value added divided by the average annual IP index.
% Equation not available in ascii file.
The IP proportions (typically shown in the first column of the relevant
tables in the G.17 release) are estimates of the industries' relative
contributions to overall growth in the following year. For example, the
relative importance weight of the motor vehicles and parts industry is
about 6 percent. If output in this industry increased 10 percent in a month,
then this gain would boost growth in total IP by 6/10 percentage point
(0.06 x 10% = 0.6%). To assist users with calculations, the Federal
Reserve's website provides supplemental monthly statistics that represent
the exact proportionate contribution of a monthly change in a component
index to the monthly change in the total index (www.federalreserve.gov/
releases/G17/ipdisk/ipweightssa.txt).
Timing. The first estimate of output for a month is published
around the 15th of the following month. The estimate is preliminary
(denoted by the superscript "p" in tables) and subject to revision
in each of the subsequent five months as new source data become
available. (Revised estimates are denoted by the superscript "r" in
tables.) For the first estimate of output for a given month, about 72
percent of the source data (in value-added terms) are available; the
fraction of available source data increases to 84 percent for
estimates in the second month that the estimate is published, 94
percent in the third month, 95 percent in the fourth month, 97 percent
in the fifth month, and 97 percent in the sixth month. Data
availability by data type in early 2014 is summarized in the table
below:
Availability of Monthly IP Data in Publication Window
(Percent of value added in 2011) %
Type of data 1st 2nd 3rd 4th 5th 6th
Physical product 32 44 54 55 57 58
Production-worker hours 40 40 40 40 40 40
IP data received 72 84 94 95 97 97
IP data estimated 28 16 6 5 3 3
The physical product group includes series based on either monthly or
quarterly data. As can be seen in the first row of the table, in the
first month, a physical product indicator is available for about half
of the series (in terms of value added) that ultimately are based on
physical product data (32 percent out of a total of 58 percent). Of
the 32 percent, about two-thirds (19 percent of total IP) include
series that are derived from weekly physical product data and for
which actual monthly data may lag up to several months. On average,
quarterly product data are received for the fourth estimate of
industrial production. Specifically, quarterly data are available for
the third estimate of the last month of a quarter, the fourth estimate
of the second month of a quarter, and the fifth estimate of the first
month of a quarter.
Seasonal Adjustment. Individual series are seasonally adjusted
using Census X-12 ARIMA. For series based on production-worker hours,
the current seasonal factors were estimated with data through January
2013; for other series, the factors were estimated with data through
at least December 2012. Series are pre-adjusted for the effects of
holidays or business cycles when appropriate. For the data since
1972, all seasonally adjusted aggregate indexes are calculated by
aggregating the seasonally adjusted indexes of the individual series.
Reliability. The average revision to the level of the
total IP index, without regard to sign, between the first and the
fourth estimates was 0.27 percent during the 1987-2013 period. The
average revision to the percent change in total IP, without
regard to sign, from the first to the fourth estimates was 0.21
percentage point during the 1987-2013 period. In most cases (about
85 percent), the direction of the change in output indicated by the
first estimate for a given month is the same as that shown by the
fourth estimate.
Rounding. The published percent changes are calculated from
unrounded indexes, and may not be the same as percent changes
calculated from the rounded indexes shown in the release.
Capacity Utilization
Overview. The Federal Reserve Board constructs estimates of
capacity and capacity utilization for industries in manufacturing,
mining, and electric and gas utilities. For a given industry, the
capacity utilization rate is equal to an output index (seasonally
adjusted) divided by a capacity index. The Federal Reserve Board's
capacity indexes attempt to capture the concept of sustainable
maximum output-the greatest level of output a plant can maintain
within the framework of a realistic work schedule, after factoring in
normal downtime and assuming sufficient availability of inputs to
operate the capital in place.
Coverage. The capacity indexes cover all facilities located in
the United States, regardless of their ownership, but not those located
in U.S. territories. Capacity indexes are constructed for 89 detailed
industries (71 in manufacturing, 16 in mining, and 2 in utilities),
which mostly correspond to industries at the three- and four-digit
North American Industry Classification System (NAICS) level. Estimates
of capacity and utilization are available for a variety of groups,
including durable and nondurable manufacturing, total manufacturing,
mining, utilities, and total industry. Manufacturing consists of those
industries included in the NAICS definition of manufacturing plus
those industries- newspaper, periodical, book, and directory publishing
plus logging-that have traditionally been considered to be manufacturing.
Also, special aggregates are available, such as high-technology
industries and manufacturing excluding high-technology industries.
Source Data. The monthly rates of capacity utilization are
designed to be consistent with both the monthly data on production and
the periodically available data on capacity and utilization. Because
there is no direct monthly information on overall industrial capacity
or utilization rates, the Federal Reserve first estimates annual
capacity indexes from the source data. Capacity data reported in
physical units from government sources (primarily from the
U.S. Geological Survey and the Department of Energy's Energy
Information Administration) and trade sources are available for
portions of several industries in manufacturing (e.g., paper,
industrial chemicals, petroleum refining, motor vehicles), as well as
for electric utilities and mining; these industries represent about 25
percent of total industrial capacity. When physical product data are
unavailable for manufacturing industries, capacity indexes are based
on responses to the Bureau of the Census's Quarterly Survey of
Plant Capacity (QSPC); these industries account for a bit less than
70 percent of total industry capacity. In the absence of utilization
data for a few mining and petroleum series, capacity is based on
trends through peaks in production (roughly 5 percent of total
industry capacity). A detailed description of the methodology used to
construct the capacity indexes is available on the Board's website
(www.federalreserve.gov/releases/G17/Meth/MethCap.htm).
Aggregation Methodology. Monthly capacity aggregates are
calculated in three steps: (1) utilization aggregates are calculated
on an annual basis through the most recent full year as
capacity-weighted aggregates of individual utilization rates; (2) the
annual aggregate capacity is derived from the corresponding production
and utilization aggregates; (3) the monthly capacity aggregate is
obtained by interpolating the annual capacity aggregate with a Fisher
index of its constituent monthly capacity series. Utilization rates
for the individual series and aggregates are calculated by dividing
the pertinent monthly production index by the related capacity index.
Consistency. A major aim is that the Federal Reserve
utilization rates be consistent over time so that, for example, a rate
of 85 percent means about the same degree of tightness that it meant
in the past. A major task for the Federal Reserve in developing
reasonable and consistent time series of capacity and utilization is
dealing with inconsistencies between the movements of the industrial
production index and the survey-based utilization rates. The
McGraw-Hill/DRI Survey, now discontinued, was the primary source of
manufacturing utilization rates for many years. This was a survey of
large companies that reported, on average, higher utilization rates
than those reported by establishments covered by the Census Bureau's
annual Survey of Plant Capacity (the predecessor to the QSPC)
for the fourteen years they overlapped. Adjustments have been made to
keep the industry utilization rates currently reported by the Federal
Reserve roughly in line with rates formerly reported by McGraw-Hill.
As a consequence, the rates reported by the Federal Reserve tend to be
higher than the rates reported in the QSPC.
Perspective. Over the 1972-2013 period, the average total
industry utilization rate is 80.1 percent; for manufacturing, the
average factory operating rate has been 78.7 percent. Industrial
plants usually operate at capacity utilization rates that are well
below 100 percent: none of the broad aggregates has ever reached 100
percent. For total industry and total manufacturing, utilization
rates have exceeded 90 percent only in wartime. The highs and lows in
capacity utilization are specific to each series and
do not all occur in the same month.
References and Release Dates
References. The release for the annual revision that was published
on March 28, 2014, is available on the Board's website (www.federal
reserve.gov/releases/g17/revisions/Current/DefaultRev.htm).
A summary of the annual revision that incorporated back to 1972
production and capacity indexes reclassified according to the North American
Industry Classification System is available in an article in the
Federal Reserve Bulletin, vol. 89 (April 2003), pp. 151-176.
A description of the aggregation methods for industrial production and
capacity utilization is included in an article in the Federal Reserve
Bulletin, vol. 83 (February 1997), pp. 67-92. The Federal Reserve
methodology for constructing industry-level measures of capital is detailed
in "Capital Stock Estimates for Manufacturing Industries: Methods and
Data" by Mike Mohr and Charles Gilbert (1996), which can be obtained
at: www.federalreserve.gov/releases/g17/CapitalStockDocLatest.pdf.
Industrial Production-1986 Edition contains a more detailed
description of the other methods used to compile the industrial
production index, plus a history of its development, a glossary of
terms, and a bibliography. The major revisions to the IP indexes and
capacity utilization since 1990 have been described in the Federal
Reserve Bulletin (April 1990, June 1990, June 1993, March
1994, January 1995, January 1996, February 1997, February 1998,
January 1999, March 2000, March 2001, March 2002, April 2003, Winter
2004, Winter 2005, March 2006, May 2007, August 2008, August 2009) or
in online staff studies
(www.federalreserve.gov/releases/g17/articles/rev2010/industrial10.pdf,
www.federalreserve.gov/releases/g17/articles/rev2012/industrial12.pdf,
www.federalreserve.gov/releases/g17/articles/rev2013/industrial13.pdf).
Release Schedule
At 9:15 a.m. on
2015: January 16, February 18, March 16, April 15, May 15, June 15,
July 15, August 14, September 15, October 16, November 17, and
December 16.